NZDUSD, H4 is bouncing from our Pivot point. Potential for rise
Description:
Price is bouncing from our Pivot point of 0.71916, which is in line with 78.6% Fibonacci retracement, 78.6% Fibonacci extension, horizontal graphical area, ascending and descending trendline support. A potential rise from here towards our first resistance level of 0.72503, in line with 61.8% Fibonacci retracement, 78.6% fibonacci extension and horizontal swing high resistance.
Pivot: 0.71916
Why we like it:
78.6% Fibonacci retracement, 78.6% Fibonacci extension, horizontal graphical area, ascending and descending trendline support
1st Support: 0.71610
Why we like it:
127% Fibonacci retracement, 127% fibonacci extension and horizontal swing low support.
1st Resistance: 0.72503
Why we like it:
61.8% Fibonacci retracement, 78.6% fibonacci extension and horizontal swing high resistance
Trading FX & CFDs carries high risk.
Price is bouncing from our Pivot point of 0.71916, which is in line with 78.6% Fibonacci retracement, 78.6% Fibonacci extension, horizontal graphical area, ascending and descending trendline support. A potential rise from here towards our first resistance level of 0.72503, in line with 61.8% Fibonacci retracement, 78.6% fibonacci extension and horizontal swing high resistance.
Pivot: 0.71916
Why we like it:
78.6% Fibonacci retracement, 78.6% Fibonacci extension, horizontal graphical area, ascending and descending trendline support
1st Support: 0.71610
Why we like it:
127% Fibonacci retracement, 127% fibonacci extension and horizontal swing low support.
1st Resistance: 0.72503
Why we like it:
61.8% Fibonacci retracement, 78.6% fibonacci extension and horizontal swing high resistance
Trading FX & CFDs carries high risk.
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