NZD/USD: 1-hour
Let’s start off with a simple break-and-retest play on NZD/USD’s 1-hour forex chart. The pair has recently broken below support at the .7650 minor psychological level and dipped to the .7550 area. From there, price showed signs of making a correction and using the Fib tool on the latest swing high and low shows that the broken support is near the 50% retracement level. If the Fib levels hold as resistance, the pair could make its way back to its previous lows or even create new ones!
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