Title
NZDUSD H4 | Potential reversal from trendline
Type
Bullish Bounce
Preference:
Price is currently testing anNZDUSD H4 | Potential reversal from trendline If it were to reverse, it may rise towards the 1st resistance at 0.62609, which is an overlap resistance level. However, if the price breaks below the trendline, it could drop to our pivot point at 0.6189, which coincides withNZDUSD H4 | Potential reversal from trendline
Alternative scenario:
On the other hand, if the price were to break below the pivot point, it could drop to the 1st support at 0.61323.
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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.