NZDUSD, H4 reversed from our Pivot. Potential for a drop.
Price has reversed from our Pivot point of 0.72301, which is in line with 61.8% Fibonacci retracement, 61.8% fibonacci extension, moving average resistance and horizontal graphical overlap. A potential drop from here towards our first support level of 0.71325, in line with the 78.6% fibonacci retracement, 100% fibonacci extension and horizontal swing low area. It is worth noting that price is trending under the moving average, in line with our analysis.
Description:
Pivot: 0.72301
Why we like it:
61.8% Fibonacci retracement, 61.8% fibonacci extension, moving average resistance and horizontal graphical overlap
1st Support: 0.71325
Why we like it:
78.6% fibonacci retracement, 100% fibonacci extension and horizontal swing low area
1st Resistance: 0.72907
Why we like it:
88% fibonacci retracement, 127% fibonacci extension and horizontal graphical resistance.
Trading FX & CFDs carries high risk.
Description:
Pivot: 0.72301
Why we like it:
61.8% Fibonacci retracement, 61.8% fibonacci extension, moving average resistance and horizontal graphical overlap
1st Support: 0.71325
Why we like it:
78.6% fibonacci retracement, 100% fibonacci extension and horizontal swing low area
1st Resistance: 0.72907
Why we like it:
88% fibonacci retracement, 127% fibonacci extension and horizontal graphical resistance.
Trading FX & CFDs carries high risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.