NZDUSD Potential for Bearish Continuation| 7th September 2022
On the H4, with price moving within the descending channel, below ichimoku indicators and MACD showing a death cross, we have a bearish bias that the price may drop from the sell entry at 0.59967, which is in line with the 61.8% fibonacci projection. If the price can break the sell entry, the take profit could be at 0.59497, where the 127.2% fibonacci extension is. Alternatively, the price may pull back from the 1sell entry and rise to the stop loss at 0.60569, where the previous swing lows are.
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