#NZDUSD, H4 is reacting below our pivot, potential for drop.
Description
Price is reacting below our pivot level at 0.69899 which is in line with 61.8% Fibonacci retracement level, 78.6% Fibonacci retracement level. Price can potentially take support at 0.69229, which is in line with 127.2% Fibonacci retracement level-61.8% Fibonacci retracement level. Alternatively, price may rise up to our resistance at 0.70609, which coincides with 78.6% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal swing high resistance . This is further supported by how price is now holding below the Ichimoku cloud resistance.
Pivot:
0.69899
Why we like it:
61.8% Fibonacci retracement level, 78.6% Fibonacci retracement level
1st Support:
0.69229
127.2% Fibonacci retracement level-61.8% Fibonacci retracement level
1st Resistance:
0.70609
78.6% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal swing high resistance
Trading FX & CFDs carries high risk.
Price is reacting below our pivot level at 0.69899 which is in line with 61.8% Fibonacci retracement level, 78.6% Fibonacci retracement level. Price can potentially take support at 0.69229, which is in line with 127.2% Fibonacci retracement level-61.8% Fibonacci retracement level. Alternatively, price may rise up to our resistance at 0.70609, which coincides with 78.6% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal swing high resistance . This is further supported by how price is now holding below the Ichimoku cloud resistance.
Pivot:
0.69899
Why we like it:
61.8% Fibonacci retracement level, 78.6% Fibonacci retracement level
1st Support:
0.69229
127.2% Fibonacci retracement level-61.8% Fibonacci retracement level
1st Resistance:
0.70609
78.6% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal swing high 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.