FX.co ★ NZDUSD is testing resistance, potential reversal!

Price is testing our first resistance, in line with our descending trend line and 61.8% fibonacci retracement, where we could see a reversal below this level to our first support target.

Trading Recommendation

Entry: 0.66817

Reason for Entry:

descending trend line and 61.8% fibonacci retracement

Take Profit: 0.66053

Reason for Take Profit:

Horizontal swing low support, 78.6%, 100% fibonacci extension

Stop Loss: 0.67042

Reason for Stop Loss:

Horizontal swing high resistance, 61.8% fibonacci extension