Title
NZDUSD H4 | Bearish reversal
Type
Bearish Reversal
Preference:
Price is rising toward the pivot of 0.6104, a pullback resistance close to 50% Fibo retracement. A reverse from this level could lead the price to drop to 1st support at 0.6059, a pullback support.
Alternative scenario:
If price breaks above the pivot, it could rise to the 1st resistance of 0.6148, a multi - swing high resistance
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.