Type: Bearish ReversalKey Levels:Resistance: 0.68101Pivot: 0.67415Support: 0.66831Preferred Case:On the H4 timeframe, prices are approaching a pivot and are on bullish momentum. We see potential for a bounce from our pivot at 0.67415 in line with 61.8% Fibonacci retracement towards 1st resistance at 0.68101 in line with 78.6% Fibonacci retracement. Prices are trading above our Ichimoku cloud support, further supporting our bullish bias.Alternative Scenario:Alternatively, price may break pivot and head for 1st support at 0.66831 in line with the 50% Fibonacci retracement.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/nzdusd-h4-i-potential-rise"
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