NZDUSD, H4 is at our Pivot. Potential for a rise.
Price is bouncing from our Pivot point of 0.71758, which is in line with 50%, 61.8% Fibonacci retracement, ascending trendline support and horizontal graphical overlap. A potential rise from here towards our first resistance level of 0.72374, in line with the -27% fibonacci retracement, 78.6% fibonacci extension and horizontal swing high area. It is worth noting that price is trending above the ascending trendline, in line with our analysis.
Description:
Pivot: 0.71758
Why we like it:
50%, 61.8% Fibonacci retracement, ascending trendline support and horizontal graphical overlap
1st Support: 0.71323
Why we like it:
78.6% fibonacci retracement, 100% fibonacci extension and horizontal swing low area
1st Resistance: 0.72374
Why we like it:
-27% fibonacci retracement, 78.6% fibonacci extension and horizontal swing high area
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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.