Bullish outlook on NZDUSD - 6 April 2023
On the H1 timeframe, price is testing a key support zone at 0.6280, which is in line with the 61.8% Fibonacci retracement. A throwback to this support zone could present an opportunity to ride the bounce to the resistance zone at 0.6350, which coincides with the 61.8% Fibonacci extension and graphical high. Stochastics are in the oversold region below 20, supporting our bullish bias.