Ziwi low but will it go?

April 29, 2014 by


On the big picture on the H1 for kiwi dollar, we can see it is nearly down at recent lows, but will it hold or will it continue to fall? There has been a steady decline recently and has now come to the only significant level in recent times. With the level smack bang in the center of the 23.6 and the 38.2 fibs, if it is to break-out, I can see it falling straight to the next level at 0.848. I suspect a trend reversal here as the bears will be looking to TP after all of these recent falls and with a big level here, its not looking to good that it will continue to be sold.