FX.co ★ Daily Video Analysis: NZDUSD facing bullish pressure, potential for further rise!

Today we take a look at NZDUSD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. Price is facing bullish pressure as it continues to hold above the ascending trendline support. We note that the MACD is rising and about to cross the 0 line, indicating potential for further bullish pressure. We could potentially see price bounce at our buy entry level, in line with our 50% Fibonacci retracement, and a further rise up to our take profit level, in line with our 78.6% Fibonacci extension and horizontal swing high resistance.