NZDUSD, H4 is bouncing from our Pivot point. Potential for rise
Description:
Price is bouncing from our Pivot point of 0.72345, which is in line with 23.6%, 61.8%, 127% Fibonacci retracement and horizontal graphical overlap support. A potential rise from here towards our first resistance level of 0.72895, in line with -27%, 88% Fibonacci retracement, 61.8%, 100% fibonacci extension and horizontal swing high resistance. Please note that price is trending above the moving average, in line with our bullish view.
Pivot: 0.72345
Why we like it:
23.6%, 61.8%, 127% Fibonacci retracement and horizontal graphical overlap support
1st Support: 0.71788
Why we like it:
50%, 23.6%, 88%, 88% Fibonacci retracement and horizontal swing low support.
1st Resistance: 0.72895
Why we like it:
-27%, 88% Fibonacci retracement, 61.8%, 100% fibonacci extension and horizontal swing high resistance
Trading FX & CFDs carries high risk.
Price is bouncing from our Pivot point of 0.72345, which is in line with 23.6%, 61.8%, 127% Fibonacci retracement and horizontal graphical overlap support. A potential rise from here towards our first resistance level of 0.72895, in line with -27%, 88% Fibonacci retracement, 61.8%, 100% fibonacci extension and horizontal swing high resistance. Please note that price is trending above the moving average, in line with our bullish view.
Pivot: 0.72345
Why we like it:
23.6%, 61.8%, 127% Fibonacci retracement and horizontal graphical overlap support
1st Support: 0.71788
Why we like it:
50%, 23.6%, 88%, 88% Fibonacci retracement and horizontal swing low support.
1st Resistance: 0.72895
Why we like it:
-27%, 88% Fibonacci retracement, 61.8%, 100% fibonacci extension and horizontal swing high resistance
Trading FX & CFDs carries high risk.
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