Originally updated: 06:26
Trading period: SHORT
Currency pair: NZD/USD
Take profit: 0.7600
Market Focus: In today’s trade set up we will be focussing on selling opportunities on the NZD/USD.
Fundamentals: The NZD fell after CPI numbers fell to lowest level for the first time in two years. The Reserve Bank of New Zealand is unlikely to make any major policy changes this year on the back of the soft numbers which should see the NZD/USD sell off further.
Technicals: Keep an eye on 0.7677 -0.7685 as this should offer short term resistance.
Stop loss could be placed at 0.7730
Target area: 0.7600
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Source:: Trading Outlook – NZD/USD