The NZD/USD dropped sharply after the yesterday’s false breakout above the 50% Fibonacci level and could approach the 61.8% retracement level. Price failed to reach the upper median line (uml) of the descending pitchfork, so the current drop is natural. Could drop much deeper after the retest of the wl5 and after the failure to close near this line, it could come to retest the median line (ml) of the descending pitchfork.
