FX.co ★ NZDUSD Potential For Bullish Continuation | 7th Mar 2022

On the H4 timeframe, prices are on bullish momentum. We see the potential for further bullish momentum from our 1st support at 0.69004 in line with 127.2% Fibonacci extension towards our 1st resistance at 0.69868 in line with 161.8% Fibonacci Projection and 200% Fibonacci Projection. Our bullish bias is further supported by prices trading above our ichimoku cloud support and also RSI being on bullish momentum. Alternatively, prices may dip towards our 2nd support at 0.68077 in line with 38.2% Fibonacci retracement.