NZDUSD to retrace to upside before continuing bearish trend
So far this pair has been following a clear down trend. As long as it stays within the pitchforks it should continue its trend to the downside. it might be looking to retrace at the .618 FIB level as the RSI conditions look to be very oversold, we could see it pop to .6550s before continue further down.
- Target entry at .6550s SHORT
- Target exit at .6220s
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- Target entry at .6550s SHORT
- Target exit at .6220s
DISCLAIMER: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
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