Following the RBNZ raising interest rates to 1.00%, the Kiwi broke to the bull. Now, a key daily Fibonacci retracement level is coming into view:
Daily 78% Fibonacci Retracement, 0.6813
Here's the trade:
1) Sell 0.6812
2) Stop loss @ 0.6837
3) Profit target @ 0.6787
4) 1:1 risk vs reward ratio
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.