#NZDUSD, H4 bounced from our Pivot. Potential for a rise.
Price has bounced from our Pivot point of 0.72667, which is in line with 50% Fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap. A potential rise from here towards our first resistance level of 0.73302, in line with the 127% fibonacci retracement, 127% fibonacci extension and horizontal swing high. Do note that price is above the descending trendline resistance turned-support, and Ichimoku cloud in line with our bullish analysis.
Description:
Pivot: 0.72667
Why we like it:
50% Fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap
1st Support: 0.72290
Why we like it:
127% fibonacci extension and horizontal swing low
1st Resistance: 0.73302
Why we like it:
127% fibonacci retracement, 127% fibonacci extension and horizontal swing high
Trading FX & CFDs carries high risk.
Description:
Pivot: 0.72667
Why we like it:
50% Fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap
1st Support: 0.72290
Why we like it:
127% fibonacci extension and horizontal swing low
1st Resistance: 0.73302
Why we like it:
127% fibonacci retracement, 127% fibonacci extension and horizontal swing high
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.