NZDUSD, H4 is bouncing our Pivot. Potential for a rise.

Price is bouncing from our Pivot point of 0.72496, which is in line with 38.2% Fibonacci retracement, 61.8% and 78.6% fibonacci extension. A potential rise from here towards our first resistance level of 0.73138, in line with the -27% fibonacci retracement and 127% fibonacci extension. Do note that price is trending above the ascending trendline, in line with our bullish analysis.

Description:

Pivot: 0.72496
Why we like it:
38.2% Fibonacci retracement, 61.8% and 78.6% fibonacci extension

1st Support: 0.72007
Why we like it:
88% fibonacci retracement, 161.8% fibonacci extension and horizontal swing low support.

1st Resistance: 0.73138
Why we like it:
-27% fibonacci retracement and 127% fibonacci extension

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