NZDUSD Nears Key Fibonacci Levels, Bearish Trend Intact
The NZDUSD pair trades around 0.611, corresponding to the 23.6% Fibonacci support level, and is inside the Ichimoku cloud. The RSI indicator has returned from the 80 level, indicating that the downtrend will likely continue. The 38.2% Fibonacci resistance level further supports the bearish trend.
If the NZDUSD price remains below this level, the next target could be the recent lower lows at 0.60618, followed by the lower band of the bearish flag.