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.
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.