NZDCAD - Mid-Sep.2012

NZDCAD may be a good candidate for a early Asia session entering short @ 0.806 with a stop @ 0.811and potential target @ 0.8 and 0.796 respectfully.
The reasoning behind this trade are the following:
@ Daily chart, 200SMA looks defended at last two daily attempts providing a reasonable resistance point for at least a temporary pullback down.Also this pair have never conquered more than 190 pips in a 4-day running strike in 2 years (160 pips in recent run last week) that is another indicator that gives me a confidence in this trade, at least on a short term basis.

Hourly chart shows rather a exhaustion on the latest run upwards from a beginning of September (see RSI at chart) that is another indicator that tells me 0.805 may posses a pretty decent resistance level:

Watch for a rebound close to 200SMA @ 1hr chart!