Kiwi: Short term squeeze is understandable

We see that Kiwi is under suffer cause of the rate cut decision of RBNZ, and they said that they could cut more if necessary. This means Kiwi could return downtrend anytime, while the long position of USD is not dead, there still has more room for greenback to go up.

However, NZDUSD have had a long time in oversell zone, and a short term squeeze is undersrandable.

The question is where we re-enter the SELL.

Look at on the chart:

23% Fib retracement is at 0.7025

RSI indicator: Resistance is at 46.32

Stoch indicator: Resistance is a 45.2

When I see NZDUSD retraces to 0.7025 and RSI + Stoch test their resistance, I will come back the SELL.

I will place a SELL limit order of NZDUSD at 0.7025 , take profit 0.6800, stop loss at 0.7180

----------------

Any contact: LH admin: admin@trackingforexsignals.com
Support: support@trackingforexsignals.com

Website: www.trackingforexsignals.com
FB page: www.facebook.com/sforexsingals

Best Regard!

- -TrackingForexSignals.com--

Do the Right thing- Think the right way.