NZDUSD - September 23rd

After the Fed surprised many by not tapering the USD sold off against all major currency pairs. This created some nice short opportunities and I had the GBPUSD as well as NZDUSD on my short list for today. I decided to go with the NZDUSD and entered my short at 0.8375 all the way up to 0.8450. Here is a decent chart so you can see something similar to what I came up with (the chart is not mine, but it does not matter as you can take a look at this or create your own which I highly recommend). I am looking for a pullback to around 0.8250 before we may see a run at 0.8600.

I’m long biased on this pair too but I might enter earlier (.8300) if the 1h rising trend line holds. Don’t you think the recent speeches by FOMC officials could reinforce dollar strength though? I’m a little confused with what the policymakers are hinting at.

I do think we are in for a minor correction i.e. short-term USD strength. Don’t worry about understanding policymakers, they confuse each other with what they say and in general are clueless about the economy or how to construct a monetary policy which is actually beneficial. I am looking for a pullback in this currency pair maybe back down to the 0.8000 level plus/minus 50 pips.