FX:NZDUSD New Zealand Dollar/U.S. Dollar
NZDUSD is currently looking to move lower, away from key weekly levels after failing to close above two different Fibonacci level. Price was able to break above the purple 1.618 Fibonacci level but could not close above it. Price quickly reversed lower as supply (sellers) came into the market near the blue 1.618 level. I am expecting price to extend its down move and take out stops (Orange lines). Awaiting to see how price reacts at Fibonacci levels from the black Fibonacci retarcement.