NZDUSD: Near the top of the Channel, expecting rejection.NZDUSD got rejected 2 weeks ago on the 0.618 Fibonacci level and as the price recovered, we find it again near the top of the long term Channel Down. With the 1D technicals going just over the neutral zone (RSI = 55.348, MACD = 0.001, ADX = 20.776), this is starting to be an optimal level to begin shorting. We are placing a first sell here, targeting the -0.236 Fibonacci extension, which is near the bottom of the Channel Down (TP = 0.59000).
Prior idea:
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