The bounce off lows around 0.7175 appears to be hitting the wall at the 38.2% retracement level. The NZD/USD broke above the resistance at 0.7445, only to fail back through.
More cautious traders may wait for any breach of the recent low at 0.7314 before selling. However, I’m happy to lean on the stop loss level afforded by yesterday’s high at 0.7485, selling at current market prices with half of my original lot size and second half at a break of 0.7410 which is an aggressive way of trading an i…
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