Genesiv

NEW ZEALAND DOLLAR FUTURES (6N1!), H1 Potential for Bullish Rise

Long
CME:6N1!   NEW ZEALAND DOLLAR FUTURES (CONTINUOUS: CURRENT CONTRACT IN FRONT)
Type : Bullish Rise
Resistance : 0.63190
Pivot: 0.62480
Support : 0.61865

Preferred Case: On the H4, with price moving above the ichimoku cloud and has broken through the descending trendline, we have a bullish bias that price will rise to the pivot at 0.62480 in line with the swing high resistance and 61.8% fibonacci retracement . Once we have upside confirmation that price has broken past pivot , we would expect bullish momentum to carry price to the 1st resistance at 0.63190 where the swing high resistance and 161.8% fibonacci extension are.

Alternative scenario: Alternatively, price may drop to the 1st support level at 0.61865 in line with the pullback support and 61.8% fibonacci projection .

Fundamentals: No Major News
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