New Zealand Dollar to US Dollar:
The price of the New Zealand dollar against the US dollar on the D1 chart has a gap pattern, and the trend is very likely to turn to a downtrend. And Fibonacci will backtest the price to reverse the continuous downward trend at 0.786 after repeated callback breakthroughs. The RSI indicator is also currently seeing prices below 50 percent. The trend remains down.
On the H1 chart, the price successfully broke below the ascending channel last week, and then continued to decline. And at this stage, the hawkish signal released by the Federal Reserve has caused the stock market and non-US currencies to face a decline. From the Fibonacci extension line, the price is also expected to make a new low.
Order suggestion:
Go short at high.
All transactions involve risks, the above analysis is for reference only. When placing an order, be sure to set the lot size and remember to set the stop loss.
