NZDUSD bullish entry based on fibs

Hi traders,

On the NZDUSD we can see confluence between the 50% Fibonacci retracement and the 161.8% Fibonacci extension. I placed the stop below the 61.8% Fibonacci retracement.
Entry: 0.71001
Stop: 0.70601
Target: 0.71662 = R:RR 1.65

Best of luck! Updates will follow.