NZDUSD stops the bullish correction; heads to decline
Target: 0.6650
Risk: 0.6910
Technical reasons:
Facing 50% Fibonacci correction level that formed strong resistance forces the price to stop the bullish wave, and signals of expected bearish rebound in the coming period.
Breaking 0.6795 will confirm the continuation of the decline towards 0.6650 then 0.6425, while surpassing 0.6910 will push the price for more bullish correction.
Risk: 0.6910
Technical reasons:
Facing 50% Fibonacci correction level that formed strong resistance forces the price to stop the bullish wave, and signals of expected bearish rebound in the coming period.
Breaking 0.6795 will confirm the continuation of the decline towards 0.6650 then 0.6425, while surpassing 0.6910 will push the price for more bullish correction.