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FX.co ★ NZDUSD Potential For Bullish Continuation | 28th June 2022

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Forex Analysis:::2022-06-28T05:14:18

NZDUSD Potential For Bullish Continuation | 28th June 2022

NZDUSD Potential For Bullish Continuation | 28th June 2022

On the H4, with price moving in an ascending trendline, we have a bullish bias that price will continue to rise from the 1st support at 0.62921 in line with the pullback support and 23.6% fibonacci retracement to the 1st resistance at 0.63955 in line with the swing high and 50% fibonacci retracement and 78.6% fibonacci projection. Alternatively, price may reverse off the 1st support and drop to the 2nd support at 0.62466 at the swing low.

Trading Recommendation

Entry: 0.62921

Reason for Entry:

Pullback support and 23.6% fibonacci retracement Take Profit: 0.63955

Reason for Take Profit:Swing high and 50% fibonacci retracement and 78.6% fibonacci projectionStop Loss: 0.62466

Reason for Stop Loss:

Swing low

Analyst InstaForex
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