NZDUSD Potential for Bearish Continuation | 14th October 2022

14 окт. 2022 г.On the H4, the price is crossing the ichimoku cloud and RSI is rising over 50, we expect that the price may rise to test the sell entry at 0.56862, where the 50% fibonacci retracement is. After testing the 1st resistance, the price may drop to the take profit at 0.55338, which is in line with the swing low. Alternatively, the price may break the 1st resistance and rise to the s could be at stop loss 0.58022, which is in line with the 38.2% fibonacci retracement and overlap resistance.

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