NZDUSD is printing fresh multi-year lows today following last month’s break of channel support. I wrote about the pending breakdown on July 29th. We were waiting for a close below 0.6630 to get short with a target of 0.6490. The August 5th session reached our target, putting in a low of 0.6488. The idea played out quicker than I anticipated, which is never a bad thing. However, I wasn’t quick enough to sell NZDUSD again at 0.6590. I had the resistance level correct, but I wasn’t able to pull the trigger fast enough. Notice how Tuesday’s session reached a high of 0.6589. That’s one pip below the 0.6590 resistance ... (full story)