NZDUSD H4 | FOREX BEE

٣٠ يناير

Hey Traders,
NZD/USD H4 Chart Analysis

The provided H4 chart for NZD/USD indicates an ascending triangle pattern, a bullish continuation pattern. However, there are two potential scenarios based on price action:

Bullish Scenario:

Key Levels to Watch:
Resistance:** 0.57341 (Fibonacci 0.5 level).
Immediate Support:** 0.56339 (Fibonacci 0.236 level).
Major Support:** Around 0.55800.

Trading Strategy:
Buy Setup: Wait for a confirmed Bull candlestick from near trendline
Sell Setup: If price breaks below the trendline and retests 0.56339 a short position towards 0.55800 is possible.

Overall, watch price action near the key levels before taking a trade.

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