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NZDUSD, H4 | Potential Bearish Continuation

40689 nzdusd h4 potential bearish continuation

Type: Bearish ReversalKey Levels:Resistance: 0.65658Pivot: 0.64704Support: 0.62937Preferred Case:On the H4, with price moving below the ichimoku cloud, we have a bearish bias that price will drop from the pivot at 0.64704 in line with the 100% fibonacci projection and overlap resistance to the 1st support at 0.62937 in line with the 78.6% fibonacci retracement.Alternative Scenario:Alternatively, price may reverse off the pivot and rise to the 1st resistance at 0.65658 in line with the multiple swing highs and 50% fibonacci retracement.

Source: Tickmill

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