NZDUSD (0.7034)

Mark Ryan Zeidus from Z2FX at 02/16/10

NZDUSD touched its target at 0.7050 and we might see a dip from NZDUSD from that level as there is a good resistance present around 0.7050 in weekly charts. Aggressive traders will look to sell NZDUSD around that level with a short stop and will target a nice intra-day trade along the retracement.

Recommended Trade:

Sell NZDUSD @ 0.7045

Stop @ 0.7080

Profit 1 @ 0.6985

Profit 2 @ 0.6930