NZDUSD bounced from support, potential for a further rise
NZDUSD currently reacting above key Fibonacci retracement level and our pivot at 0.71626. With stochastic testing support where price bounced in the past, a short term push up towards 78.6% Fibonacci retracement and 1st resistance at 0.72142 could be expected. Otherwise, failure to hold above our Pivot could see price swing the other way towards recent swing low and 1st support at 0.71233
Pivot: 0.71626
Why we like it:
61.8% Fibonacci retracement
1st Support: 0.71233
Why we like it:
Horizontal swing low support
1st Resistance: 0.72142
Why we like it:
78.6% Fibonacci retracement
Trading FX & CFDs carries high risk.
Pivot: 0.71626
Why we like it:
61.8% Fibonacci retracement
1st Support: 0.71233
Why we like it:
Horizontal swing low support
1st Resistance: 0.72142
Why we like it:
78.6% Fibonacci retracement
Trading FX & CFDs carries high risk.
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