NZD CAD Fib 50 Retracement

A Fib has been drawn from the last major swing. Price is now testing at the 50 level.

You will see price has a level of support from a minor trend line based off the previous two highs.


Divergence is evident on the one hour RSI

A Double bottom was loosely formed at the 50 level followed by breakout and retest. This is coupled with a trend line breakout and retest.

Risk Reward could be as high as 1:8 if price reaches the next descending trend line.