NZDCAD Watch for Trend Support Break

FX:NZDCAD   New Zealand Dollar/Canadian Dollar
85 0 8
Potential short position shown in chart.

Watch for a break of both the trend support (red line) and 61.8% fib.

If the trend support and fib line is broken I'll secure profit first at the 78.6% fib (bottom of blue shaded area) with a stop lost relocation near (just above) that support then continue to target the 100% fib intersecting with the main channel support (blue line) as shown.

If the support is not broken watch for strong resistance around .908

Overall Risk:Reward 5.54
Trade active: Entered with original Sell Stop.
Comment: SL moved to .89447. Now a zero risk trade.
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