Short NZDUSD from the strong accumulation & rejection zone

NZDUSD had a strong accumulation and then a sell off at 0.6897. This level acted a strong support /resistance earlier and price has bounced off this few times. I expect price to react to this level once it reaches it. Stop Loss above the wick of the candle from the previous rejection/sell-off. RBNZ is not very hawkish and infact looking to cut rates later in the next year. If the price reaches this level I would look to go short..

Kommentera:

Continue to wait for NZD to reach our short position level