filatovarthur

NZDUSD Outlook for today: 4th April

Short
FX:NZDUSD   New Zealand Dollar / U.S. Dollar
On the H4, with price expected to bounce off the support of the Ichimoku cloud, we have a bias that price will rise to our 1st resistance at 0.69875 in line with the swing high resistance from our 1st support at 0.68752 in line with the horizontal overlap support, 50% Fibonacci retracement and 100% Fibonacci projection. Alternatively, price may break 1st support structure and head for 2nd support at 0.68332 in line with the 138.2% Fibonacci extension and 61.8% Fibonacci retracement. Our bullish bias is further supported by the ascending trendline which is signifying a bullish momentum. Sell trend is looking as its predicted to go down and reason for that 138.2% Fibonacci extension and 61.8% Fibonacci retracement.

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.