FX:NZDUSD   New Zealand Dollar / U.S. Dollar
49 0
Potential for a short trade of the pair

Price was in a strong downtrend until earlier this week when news events pushed price back up.

However, as the Fibonacci demonstrates on the 4 hour, price began to resist at the 61% level and looks like it is resuming the downtrend movement

Price is now at an area of weekly support & resistance so watch for a break, retest and continuation at this level before entering a short trade for around 200 pips

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