Kiwi - short

The Kiwi in 2020 has moved from a high of .6750 at the start of the year and a Covid low near .5450 in March 2020 ( which was beyond 3 standard deviation of price movement and considerably oversold) .

Price is recovering , with a 50% retracement of the recently weekly swing down.

The weekly area of horizontal resistance is around .6200 ( wrt sept 2019 and feb 2020) .

A short opportunity in the direction of the larger downtrend is considered

1. Entry - between horizontal resistance and the .618 fib retracement , around .6250

2. Stop - above a minor swing high at .6450

3. Target - towards the lows of march 2020 around .5600

4. RR = 3