NZDUSD Potential Bullish Continuation

2022년 7월 25일

On the H4, with price breaking out of the descending trend channel, moving in a short term ascending support and moving above the ichimoku cloud, we have a bullish bias that price will rise from the pivot at 0.62081 at the overlap support. If price breaks the intermediary resistance at 0.62707 at the swing high in line with the 61.8% fibonacci retracement and 100% fibonacci projection, we will have upside confirmation that price will rise to the 1st resistance at 0.63249 at the swing high in line with the 78.6% fibonacci retracement. Alternatively, price may break the support structure at the pivot and drop to the 1st support at 0.61430 at the pullback support.

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