Breakout setups as U.S. Dollar long positions exits – trade setup for NZDUSD

Italian referendum sell-off considered exaggerated as Euro recovers through New York session. U.S. Dollar currently experiencing further weakness as shorting continues beyond initial voting longs.


Over on the NZDUSD pair, the U.S. Dollar returned its initial gains. Any rally above the 0.7150~ price level represents fresh long entries. Current long entry targets a 2.6 reward to risk ratio with take profit just under the next possible 4-hour supply zone.


Take profit sits just under this 4-hour timeframe at the 0.7212~ price level. This breakout may signal further close-outs of U.S. Dollar long positions driving this rally higher.


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