NZDUSD, H4 | Rising towards pullback resistance level?
August 22, 2023 6:23 am
The NZD/USD chart currently displays a bullish momentum, indicating a potential upward trend towards the 1st resistance. This 1st resistance level at 0.5954 is identified as a pullback resistance that aligns with the 23.60% Fibonacci retracement level. Furthermore, the 2nd resistance at 0.5993 is identified as an overlap resistance that aligns with the 38.20% Fibonacci retracement level.
To the downside, the 1st support at 0.5896 is identified as a swing-low support. Additionally, the 2nd support at 0.5840 is identified as a pullback support that aligns close to the 161.80% Fibonacci extension level.
The material has been provided by InstaForex Company – www.instaforex.com
The NZD/USD chart currently displays a bullish momentum, indicating a potential upward trend towards the 1st resistance. This 1st resistance level at 0.5954 is identified as a pullback resistance that aligns with the 23.60% Fibonacci retracement level. Furthermore, the 2nd resistance at 0.5993 is identified as an overlap resistance that aligns with the 38.20% Fibonacci retracement level.
To the downside, the 1st support at 0.5896 is identified as a swing-low support. Additionally, the 2nd support at 0.5840 is identified as a pullback support that aligns close to the 161.80% Fibonacci extension level.
The material has been provided by InstaForex Company – www.instaforex.com
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