The NZD/USD broke below the potential bullish trend line on the Daily Chart. Therefore, it is likely that this trend line is no longer relevant. Even if the pair rallies back above the bullish trend line, it still could be weeks before another successful test has the chance to emerge.
On a short term basis, a bearish trend line has formed on the 1hr Chart. However, this trend line is so short term that we will have a very difficult time finding an opportunity to go short near this trend line. There could be a potental opproutnity to trade a break out, but even that will be tough with a trend line that isn't even 200 pips. Like many other pairs, we basically will have to sit tight until volatility returns.
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