New Zealand Dollar Futures (6N1!) H4 I Bullish momentum toward resistance
New Zealand Dollar Futures (6N1!) H4 I Bullish momentum toward resistance.
Type:
Bullish Bounce
Key Levels:
Resistance: 0.60700
Pivot: 0.59990
Support: 0.59590
Preferred Case:
On the H4 timeframe, the price action shows a possible bullish bounce off the Pivot at 0.59990, with upside potential toward the 1st Resistance at 0.60700.
Alternative Scenario:
Should the price break below the Pivot at 0.59990, expect a further decline, targeting the 1st Support at 0.59590.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.