themarketzone

Approaching the monthly 61.8 Fib line - Will it be enough?

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
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Will the 61.8 Fib line be enough to stop the $NZDUSD nose dive?
$NZDUSD which started its major decline following the breakdown of a monthly rising Wedge closed last week below the 0.66-0.67 support zone .
Near 61.8 Fib there's now clear structure but it can cause a small bounce.. at least to re-test 0.66-0.67.

NZD rate coming this week this week.

0.64 is the support zone to monitor for this trading scenario.

Read more in this week Weekly Markets Analysis - http://marketzone.tumblr.com/post/124485796545/the-weekly-markets-analysis-is-it-over-yet
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