Tickmill

NEW ZEALAND DOLLAR FUTURES (6N1!), H4 Potential for Bullish Rise

CME:6N1!   NEW ZEALAND DOLLAR FUTURES (CONTINUOUS: CURRENT CONTRACT IN FRONT)
Type : Bullish Rise
Resistance : 0.63185
Pivot: 0.62470
Support : 0.61850

Preferred Case: On the H4, with prices moving within an ascending channel and above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 0.62470 where the overlap support is to the 1st resistance at 0.63185 where the swing high resistance, 78.6% fibonacci retracement and 127.2% fibonacci extension are.

Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 0.61850 where the overlap support, 50% fibonacci retracement and 61.8% fibonacci projection are.

Fundamentals: No Major News

This analysis is provided as general market commentary and does not constitute investment advice.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.