NZDUSD reversed from our Pivot point. Potential for a drop
Description:
Price has reversed from our Pivot point of 0.71960, which is in line with 61.8% Fibonacci retracement, 88% Fibonacci extension and horizontal graphical resistance. A potential drop from here towards our first support level of 0.71108, in line with 88%, 61.8% fibonacci extension and horizontal swing low support. Please note that MACD is under the 0 line, showing bearish pressure.
Pivot: 0.71960
Why we like it:
61.8% Fibonacci retracement, 88% Fibonacci extension and horizontal graphical resistance
1st Support: 0.71108
Why we like it:
88%, 61.8% fibonacci extension and horizontal swing low support
1st Resistance: 0.72207
Why we like it:
-27%, 78.6% Fibonacci retracement, 50% fibonacci extension and horizontal graphical resistance.
Trading FX & CFDs carries high risk.
Price has reversed from our Pivot point of 0.71960, which is in line with 61.8% Fibonacci retracement, 88% Fibonacci extension and horizontal graphical resistance. A potential drop from here towards our first support level of 0.71108, in line with 88%, 61.8% fibonacci extension and horizontal swing low support. Please note that MACD is under the 0 line, showing bearish pressure.
Pivot: 0.71960
Why we like it:
61.8% Fibonacci retracement, 88% Fibonacci extension and horizontal graphical resistance
1st Support: 0.71108
Why we like it:
88%, 61.8% fibonacci extension and horizontal swing low support
1st Resistance: 0.72207
Why we like it:
-27%, 78.6% Fibonacci retracement, 50% 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.