NZD/USD has strengthened impressively over the last 20+ hours but there are clear signs this rally is exhausted.
RSI on H1 is over 80 and this is a decline from earlier levels.
We at Carleton Capital are pacing a SELL STOP on this pair from .7287. Price is currently .7299.
We have a tight STOP at .7311 for a 24 pip risk.
Target is the 200 sma initially at .7160 though this target is likely to be adjusted depending on how the pair move.
The FOMC Statement will have some influence on this trade so hopefully we can get to break even before 18:00 even if its almost certain we'll get a neutral statement in light of the forthcoming US Elections.
RSI on H1 is over 80 and this is a decline from earlier levels.
We at Carleton Capital are pacing a SELL STOP on this pair from .7287. Price is currently .7299.
We have a tight STOP at .7311 for a 24 pip risk.
Target is the 200 sma initially at .7160 though this target is likely to be adjusted depending on how the pair move.
The FOMC Statement will have some influence on this trade so hopefully we can get to break even before 18:00 even if its almost certain we'll get a neutral statement in light of the forthcoming US Elections.