NZD/USD 4 hour chart
Stop loss: 70 pips - .8165
Profit target: 160 pips - .7935
We’re seeing good data from the United States recently, so if this continues, we might see a dollar rally.
I think if we see a break, it’ll just continue to drop and potentially retest the former lows. I will wait for a solid red candle to break through the falling support line, and will also wait for a break of the .8100 handle before putting in my order. I will also consider a break-and-retest of the support line as an area for re-entry.