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EliteTradersFX

NZD/USD - Strong NFP Numbers

Short
New Zealand Dollar / U.S. Dollar (PEPPERSTONE:NZDUSD)  
EliteTradersFX  
PEPPERSTONE:NZDUSD   New Zealand Dollar / U.S. Dollar
Trend Analysis Fundamental Analysis nzdusdshort NZDUSD nfp nzdusdtrade
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trendanalysis fundamental nzdusdshort nzdusd nfp nzdusdtrade
Given the robust NFP figures from last week, alongside the deteriorating job market in New Zealand and evident bearish technical analysis, it appears advantageous to consider a short position on NZD/USD.

The price remains below the 200-day moving average, indicating a downtrend, and has recently tested resistance at 0.60500. I am targeting a decline to 0.58800 as my take-profit level.






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