Title
NZDUSD H1 I Bullish Reversal
Type
Bullish Reversal
Preference:
Price is falling toward the pivot of 0.5923, a support that aligns with the 61.8 Fibonacci retracement. A bounce from this level could lead the price to rise to 1st resistance at 0.5954, an overlap resistance.
Alternative Scenario:
If price breaks below the pivot, it could fall to 1st support at 0.5908, a swing low support level
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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.