NZD/USD: There is a down AB Boundary on the weekly chart and

Tian Kriek

Analyst


August 5, 2020 01:31 PM

BULLISH

Daily Trading Range:
NZD/USD: There is a down AB Boundary on the weekly chart and price is retracing inside the down AB Boundary. The Probability is Bullish and next weekly resistance will be at 0.6800 which is a round number. There is an UP Fibonacci ABCD swing on the Daily chart with a Super Shallow Retracement suggesting that price will bounce Bearish at the Fibonacci 1.27 extension which also forms a confluence with the Pivotal Resistance at 0.6800 about +135 pips away. Get this chart and analysis for free. Copy and Paste the following link in your browser: https://smarttrader.com/charts/tkriek/tk-aod-workspaces-5-aug/

Daily Chart

Daily Chart

Daily Support and Resistance

Resistance 3: 0.7150
Resistance 2: 0.7440
Resistance 1: 0.7500
Current Price 0.6667
Support 1: 0.6400
Support 2: 0.6200
Support 3: 0.6000

Two Hour Chart

Two Hour Chart
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