Approaching the monthly 61.8 Fib line - Will it be enough?
Will the 61.8 Fib line be enough to stop the $NZDUSD nose dive?
$NZDUSD which started its major decline following the breakdown of a monthly rising Wedge closed last week below the 0.66-0.67 support zone.
Near 61.8 Fib there's now clear structure but it can cause a small bounce.. at least to re-test 0.66-0.67.
NZD rate coming this week this week.
0.64 is the support zone to monitor for this trading scenario.
$NZDUSD which started its major decline following the breakdown of a monthly rising Wedge closed last week below the 0.66-0.67 support zone.
Near 61.8 Fib there's now clear structure but it can cause a small bounce.. at least to re-test 0.66-0.67.
NZD rate coming this week this week.
0.64 is the support zone to monitor for this trading scenario.