[B]My picks:[/B] Range Trade NZD/USD
[B]Expertise:[/B] Fundamentals and Technicals
[B]Average Time Frame of Trades:[/B] 2 - 10 Days
The NZD/USD surged higher this week, leading me to close my short position from the previous month, and I have decided to place a sell entry at 0.5869, the 200-Day SMA, as I expect to see a corrective retrace to follow in the week ahead. Moreover, as the economic docket is expected to reinforce a weakening outlook for New Zealand, expectations for further easing is likely to weigh on the kiwi-dollar over the near-term, and may continue to hold a broad range as investors weigh the outlook for future policy. As a result, I have placed by target at 0.5731, the 20-Day SMA, and will place my stop at 0.5925, the 4/13 close.
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