Looking to short NZDUSD ... the week of 09 MarchNew Zealand Dollar vs US DollarICMARKETS:NZDUSDTranquilo1154Even though the situation with USD pairs is confusing at the moment (some showing USD strength while others with a weakness/neutral bias), I will be looking to short this pair. We could say that I am keeping alignment with indices falling lower together with a weak NZD. Daily chart Price is below the 50 ema that is starting to slope to the downside. Price also broke (and closed) below a significant s/r zone between 0.5935 – 0.5950. A sequence of lower highs and lower lows is visible. 4H chart You can see more clearly how the s/r zone has been in play, acting both as support and resistance multiple times. I am hoping for another re-test of the zone, but a nice up move towards (or beyond) the zone is what I want to see. Trade parameters It is critical for me to see evidence that higher prices are being rejected and only then will I enter a trade. A small delay in entry and consequent reduction in profit is preferable to being caught on the wrong side of the market. Stop around 0.6020 with 2 possible targets are shown. The possibility that a pull back does not happen cannot be ruled out in these times of parabolic rise in oil and CAD. This is not a trade recommendation.