#NZDUSD, H4 bounced from our Pivot. Potential for a rise.
Price has bounced from our Pivot point of 0.71804, which is in line with 61.8% Fibonacci retracement, 50% fibonacci extension and ascending trendline. A potential rise from here towards our first resistance level of 0.72897, in line with the 78.6%, -27% fibonacci retracement and horizontal swing high. Do note that price is trending above the ascending trendline, in line with our bullish analysis.
Description:
Pivot: 0.71804
Why we like it:
61.8% Fibonacci retracement, 50% fibonacci extension and ascending trendline
1st Support: 0.71847
Why we like it:
88% fibonacci retracement, 61.8% fibonacci extension and horizontal swing low
1st Resistance: 0.72897
Why we like it:
78.6%, -27% fibonacci retracement and horizontal swing high
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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.