Forex Flash: Short NZD/USD for a target of 0.8060 - Westpac

There are reports that the Westpac FX strategy team has gone short the NZD/USD around 0.8260 for a target of 0.8050 and a stop loss at 0.8360, for a risk reward scenario of over 2:1.

According to Sean Lee, founder at FXWW, "reading between the lines, and whilst they give plenty of reasons for the trade, stops below the market would seem to be their primary reasoning, and these guys will see a lot of orders..."