Since last Friday, the NZDUSD has been trading in a bearish market condition (was rejected from its main long term resistance level at 0.6884). Today, during the Asian and European session the market headed south, but it still has room to continue its way down. Please take a look at the next chart:
It’ll probably continue its way down until it reaches the next long term support level around 0.6540.
My Trading Plan:
Look for short trading opportunities, I will place all take profit orders above the next long term support level.