Type: Bearish ReversalKey Levels:Resistance: 0.81052Pivot: 0.80228Support: 0.79408Preferred Case:On the H4, with price moving below the ichimoku indicator, we have a bearish bias that price will drop from the pivot at 0.80228 where the pullback support is to the 1st support at 0.79408 in line with 127.2% fibonacci extension and 100% fibonacci projection.Alternative Scenario:Alternatively, price could rise above pivot structure and head for 1st resistance at 0.81052 where the pullback resistance, 100% fibonacci projection and 38.2% fibonacci retracement are.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/nzdcad-h4-or-potential-bearish-drop"
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