NZDUSD Channel Down still holding. Prime short here.

The NZDUSD pair hit the 0.60500 target (see chart below) we set on our most recent call (October 27):


As you can see, the price extended even higher to the top (Lower Highs trend-line) of the 12-month Channel Down where it has so far been rejected. This is technically the most optimal level to sell, as long as the trend-line holds of course. We are taking this opportunity and will target 0.57750 (Support 1). If however the 1D RSI hits the 30.00 oversold level before the target is materialized, we will take profit regardless, as this will be a sign of a potential bottom.

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