GBPNZD H4 | Potential For A Rise!


Type: Bullish BounceKey Levels:Resistance: 1.93575 Pivot: 1.9185Support: 1.90841Preferred Case:On the H4, with price expected to continue moving within the ascending channel and expected to bounce off the support of the RSI indicator, we have a bullish bias that price will rise to our 1st resistance at 1.93575 where the pullback resistance and 50% Fibonacci retracement is from our pivot at 1.9185 in line with the horizontal pullback support and 78.6% Fibonacci retracement.Alternative Scenario:Alternatively, price may break structure and head for 1st support at 1.90841 where the horizontal swing low support is.

Source: Tickmill

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