NZD/USD Price Analysis: Bulls eye a run past 0.6280, bears flex at 61.8% Fibo

• NZD/USD is now in the corrective territory around 0.6200/50.
• The price has made a 61.8% Fibonacci retracement of the 4-hour bearish impulse.
• If the bulls keep control, then a breach of 0.6280 opens the risk of a run through 0.6300.

As per prior analysis, NZD/USD bears are waiting to move in to keep pressures on below 0.6300, the price dropped as per the forecast following the speculated trajectory as follows: 

NZD/USD prior analysis

''Meanwhile, there are prospects of a move lower:

While below resistance, the odds are for a move into the low 0.62s following the break of structure. a correction is in process currently, but if bears commit, say below 0.6300, then a sell-off from the region of a 50%, 61.8% ratio could be on the cards for the day ahead.''

NZD/USD update

NZD/USD is now in the corrective territory around 0.6200/50 after reaching the -0.618% Fibonacci target area.

The price has made a 61.8% Fibonacci retracement of the 4-hour bearish impulse but has since started to decelerate. However, given the momentum in the correction, if the downside is to play out, it could be a staggard and slow process as the bears and bulls go head to head in a barroom brawl between the lows and 0.6250. If the bulls keep control, then a breach of 0.6280 opens the risk of a run through 0.6300 and  from that point, things will start to look bullish towards 0.6400: