TechnoMeter

A daily close below the 50% Fibonacci retracement at 0.6986 opens the door for a challenge of the 61.8% level at 0.6913. Alternatively, a reversal back above the 38.2% Fib at 0.7060 clears the way for a test of the 23.6% retracement at 0.7150.
It seems tempting to enter a short NZD/USD position. The available trading range is too narrow relative to ATR-measured volatility however, arguing against taking the trade on risk/reward grounds. With that in mind, it seems most attractive to remain flat for now until an actionable setup can be identified.

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