NZDCAD Potential Bullish Bounce | 22nd March 2022

22 mar 2022On the H4, price is abiding to the ascending trendline. Price is near pivot level of 0.86556 in line with 78.6% Fibonacci projection and 61.8% Fibonacci retracement. Price can move towards the take profit level of 0.87215 which is in line with 127.2% Fibonacci extension and 61.8% Fibonacci projection. Our bullish bias is supported by the how price is expected to bounce off the support of the RSI indicator. Alternatively, price might dip to the stop loss level at 0.86169 which is in line with 100% Fibonacci projection, along with a graphical pullback support.

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