Last week the NZDUSD broke the bottom of the range, since then, the kiwi has been falling like a rock, and I’m getting ready to short it.

Here is my plan:

I’m waiting for a pullback to the main ST resistance level at 0.7760. I plan to hold my trade until the NZDUSD reaches the next LT support level at 0.7500.

Sounds like a good plan to you?

Let me know what you think.

Cheers,

Raul Lopez
Forex Training