NZD/USD Facing Resistance at 61.8 Fib

1 min read
tarantula fx

tarantula fx

Head of Trading

Dear traders,

NZD/USD is in downtrend. Bearish momentum and trend should continue.

The NZD/USD is facing resistance at 61.8 Fibonacci retracement. It is also a previous support now resistance and order block. Bearish 1h candle close should imply bearish continuation move. Targets are D H3 – 0.7058 followed by D L3 – 0.70107. We should see bears in game soon.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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