The recovery in NZD/USD seems to have stalled ahead of the November high (0.6038) as it gives back the advance from the start of the week.
In turn, a move/close below the 0.5920 (61.8% Fibonacci extension) to 0.5930 (78.6% Fibonacci extension) region may push NZD/USD towards the 0.5740 (78.6% Fibonacci retracement) to 0.5760 (100% Fibonacci extension) zone, with the next area of interest coming in around the 2020 low (0.5470).
At the same time, a breach above the November high (0.6038) brings 0.6070 (61.8% Fibonacci extension) on the radar, with the next region of interest coming in around 0.6170 (50% Fibonacci extension).
--- Written by David Song, Senior Strategist at FOREX.com
In turn, a move/close below the 0.5920 (61.8% Fibonacci extension) to 0.5930 (78.6% Fibonacci extension) region may push NZD/USD towards the 0.5740 (78.6% Fibonacci retracement) to 0.5760 (100% Fibonacci extension) zone, with the next area of interest coming in around the 2020 low (0.5470).
At the same time, a breach above the November high (0.6038) brings 0.6070 (61.8% Fibonacci extension) on the radar, with the next region of interest coming in around 0.6170 (50% Fibonacci extension).
--- Written by David Song, Senior Strategist at FOREX.com
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.