NZD/USD Price Analysis: The bears are taking over and trying to move towards a 50% mean reversion

NZD/USD seeking a clean break below the 38.2% Fibo.
A run to the 50% mean reversion opens risk to the 61.8% and further.

Ross J Burland FXStreet

The bulls are tiring at daily resistance and the bears are taking over in the Asian session. The following illustrates the bias to the upside from prior analysis, NZD/USD Price Analysis: Bulls move in on critical daily resistance, which has now flipped bearish.

NZD/USD prior analysis, H1 chart

NZD/USD live update

The price is deteriorating as the bulls start to throw in the towel leaving plenty of hourly structure behind them as the bears start to carve out a bearish case for the end of the week. The bears will need to commit around the 38.2% at this juncture, however, or this will likely move into a phase of messy consolidation for the session ahead. A move below the 61.8% Fibo, however, could be significant and open a move to mitigate the price imbalance in fast consesion to the 78.6% ratio.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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