NZD H4 | A reverse from overlap support?

6 thg 4, 2023

Looking at the H4 chart, we can see that price has recently bounced off our buy entry at 0.6281, with an overlap support level and a 50% Fibonacci retracement. Our take profit target is at 0.6334, which is a swing high resistance level, while our stop loss is set at 0.6234, just below the swing high support level.

It is important to note that there is an ascending trendline visible on the chart, suggesting that the overall momentum of the market is bullish