Title
NZDUSD H4 | Falling to pivot point
Type
Bullish bounce
Preference:
Price is falling to our pivot point at 0.63114 which is a pullback support level. A bounce from here, price could push up to 1st resistance at 0.6352 which is just before a swing high resistance
Alternative scenario:
However, if price breaks below the pivot, it could drop to 1st support at 0.62641 which is an overlap support level
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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.