NZDUSD orders are lurking sub 0.6830 and a barrier is in play too

Some kiwi order flow and options chatter for you

Heads up NZDUSD traders. Desks are noting bids around 0.6820, and offers up around 0.6895. There’s alos a barrier option said to be in place at 0.6800. There’s no details on the size of the barrier but the bids could be related to that.

We potentially have a double bottom situation going on in the kiwi down at the 0.6815 area so this one could be interesting. There’s a low risk trade for longs from 0.6820 with a tight stop under 0.6790. A break of 0.6800 could be significant but there’s also a risk that someone decides to flush the barrier and then we see the price reverse back up.