Short Term trade idea for NZDUSD Sell at 0.73250 for a drop towards 0.71340 towards 0.69590 Stop loss at 0.74620
Reason For Short Market close to and pulled back below descending channel resistance. Market currently below 0.73250. This is the 23% Fibo retracement level. A close below this level will strengthen the bearish play for a drop towards 0.71340 which is the 61.8% retracement of the whole move. RSI currently also shows some slight divergence and also some room for downside.
Trade closed manually
⋅
I believe the correction is over. Divergence on RSI is no longer. Cancelled my trade on this and managed to break even with no loss