This is a Big Level in Kiwi: Here’s the Trading Plan!

Like I mentioned in my early update the Kiwi, Whilst being strong against the USD hasn’t managed to break out very far to the upside. In fact, it still hasn’t managed to crack resistance at the 0.7100 level.

NZD/USD – 240 min Chart.

NZD/USD – Trading Plan

I’m looking for a break to the upside and a bearish candle. So basically a candle or candle pattern that is indicating that the sellers are in control. If we can see that there is an imbalance and the resistance level is valid then I will be prepared to short here.

There is still the chance of some USD follow through in the European and U.S. sessions given the fact that the FOMC minutes were released late in the day.