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NZDUSD H4 | Potential for Bullish Bounce

37412 nzdusd h4 potential for bullish bounce

Type: Bullish BounceKey Levels:Resistance: 0.68969Pivot: 0.68085Support: 0.67297Preferred Case:Price is near pivot level of 0.68085 in line with 78.6% Fibonacci retracement and 161.8% Fibonacci extension. It can potentially bounce up to 1st resistance level of 0.68969 in line with 38.2% Fibonacci retracement and 61.8% Fibonacci projection. Our bullish bias is supported by the stochastic indicator where price is near support level.Alternative Scenario:Alternatively, price might continue to dip towards the 1st support level of 0.67297 in line with a graphical swing low support.

Source: Tickmill

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