NZD/USD 4 Hour: Testing the pivot level at 0.76
Suggested positioning: No positions
Technical reasons why: The pair broke above the Ichimoku cloud and a triangle chart pattern and currently testing the turning point of 0.76. A confirmation of a break above this level could indicate further upside towards 0.7680 and beyond
Alternative Scenario: Below 0.75 look for further downside towards key support levels at 0.74 and 0.73
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 0.74 | 0.76 | 0.768 |
| 0.73 | 0.75 | 0.783 |
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