Retreating from the recent swing highs over the last 5 days, the New-Zealand dollar formed a large with trending pin bar off a key role reversal level today. It should be noted how the day started off very bearish for the pair, which reversed gains sharply after touching the key role reversal level at .8210 and closed up on the day.
I suspect higher prices for the Kiwi, but am looking for one more intraday pullback to get long. I'll take a buy off any pullback towards .8230-.8215 with tight stops below targeting the recent swing highs at .8350 offering up a nice 3/4:1 reward to risk play so a decent catch out there. Bears can watch .8350 on the intraday charts for weakness to short the pair targeting today's lows.
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|AUD Conference Board Leading Index||20.00EST|
|NZD Credit Card Spending (YoY)||23.00EST|
|GBP Public Sector Net Borrowing (Pounds)||04.30EST|
|CAD Consumer Price Index (YoY)||08.30EST|