I think the US Dollar is nearing a bottom (as I posted here) as many people are bearish and few are bullish. I'm trading this speculation by shorting NZD/USD in the .67-.72 range with a target at .50 and below.
You can see in the 10-year chart above that there is good resistance in the .67 to .72 range. We've had a nice ABC-flat rally since prices tanked back in 2008, and based on the dollar, I think this currency could be ready start the next leg in its downtrend.
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