EurNzd - Local Long

In the pair where the main trend is downward, the price has broken above the Fibonacci 23.6% level and has received an upward reaction from the support zone between 38.2% and 23.6%. In medium and long-term trends, after the break of the 23.6% level, we often see a retest movement back to or above the 23.6% level before reaching the 38.2% level. Additionally, on the H4 chart, the 21-period RSI is in the oversold zone. Our initial target for now is the Fibonacci 23.6% retracement level.