The Kiwi continues to trade in a downward trend, at the moment the price is trying to test the upper trend line. The price is below the 50-day moving and 23.6 Fibonacci. Given the strengthening of the US dollar, we expect the price to be depressed at these levels.
First Scenarios: We find an opportunity to open a short position at current levels with a stop leve at 0.66070.
Second scenarios: Let's wait for the movement to test once again the trendline, the 50-day creeping and 23.6 Fibo with Demarker's reversal in the redeemed area where, with the accumulation of several resistances, it can give us more confidence to find a short position.
Alternative Scenarios: The price is slipping from the indicated levels and confirming the possible short-term reversal of the trend.
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