Resistance: 0.8084 moderate/0.8098 minor/0.8122 minor

Support: 0.8060 strong/0.8046 moderate/0.8022 minor

NZDUSD is generally bullish with 4-Hour Bearish Engulfing occurring near a strong support level at 0.8060, the Pivot Point. With the pivot directly beneath us a close under 0.8060 has to be seen before jumping short. The immediate object will be 0.8046 break of which suggest you have a tanking market with 0.8022 as its target. Stops should be placed above the Pivot Point or alternatively the patterns high.

Learn more about the chart patterns and how to recognize them in our Learning Center: Japanese Candlesticks - A Way To Look At Prices