NZDUSD H1 | Bearish reversal setup
Title
NZDUSD H1 | Bearish reversal setup
Type
Bearish reversal
Preference
The price rejected off the pivot at 0.6045, a pullback resistance. A reversal at this level could lead the price toward the 1st support at 0.5998, an overlap support.
Alternative Scenario
If the price breaks above the pivot, it could rise toward the 1st resistance at 0.6078, which is a pullback resistance.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.