Type: Bullish BounceKey Levels:Resistance: 0.6997Pivot: 0.693Support: 0.6878Preferred Case:Price is near to the pivot level of 0.693 in line with 61.8% Fibonacci retracement and 61.8% Fibonacci projection. It can potentially rise towards the 1st resistance level of 0.6997 in line with 100% Fibonacci projection and -27.2% Fibonacci expansion. Our bullish bias is supported by price trading above the ichimoku cloud indicator.Alternative Scenario:Alternatively, price might drop to the 1st support level of 0.6878 in line with 100% Fibonacci projection, along with a graphical swing low support.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/nzdusd-h4-potential-for-bullish-bounce"
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