| Bulletproof Traders in-house trading activities presents our short position on the NZD/USD. Targeting the short-term cycle, we believe the price of the pair is on it's way towards the next key-level support at 0.6428.
Having said that, it really depends on price remaining below the big testing level at 0.6542. If price end up closing the Weekly bar above this test level we will be forced to abandon the ship.
Since our moment of entry a couple of days ago, the pair edged down a little bit but was able to cross below 0.6542. Even though it is a bearish sign, we should keep in mind that final confirmation will only be determined by the close of the Weekly bar.
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