NZDUSD consolidating sideways, potential for bounce!
Price is reacting above pivot level at 0.70850, in-line with 23.6% Fibonacci retracement level, 61.8% Fibonacci extension level and 50MA. Price could potentially swing towards resistance at 0.71700 which coincides with 100% Fibonacci retracement level and 127.2% Fibonacci extension level. Stochastic is also at ascending trendline support for further upside.
Alternatively, price could potentially drop to support level at 0.70240 which coincides with 38.2% Fibonacci retracement level and 100% Fibonacci extension level.
Pivot:
0.70920
Why we like it:
23.6% Fibonacci retracement level, 61.8% Fibonacci extension level and 50MA
1st Support:
0.70240
38.2% Fibonacci retracement level and 100% Fibonacci extension level
1st Resistance:
0.71700
100% Fibonacci retracement level and 127.2% Fibonacci extension level
Trading FX & CFDs carries high risk.
Alternatively, price could potentially drop to support level at 0.70240 which coincides with 38.2% Fibonacci retracement level and 100% Fibonacci extension level.
Pivot:
0.70920
Why we like it:
23.6% Fibonacci retracement level, 61.8% Fibonacci extension level and 50MA
1st Support:
0.70240
38.2% Fibonacci retracement level and 100% Fibonacci extension level
1st Resistance:
0.71700
100% Fibonacci retracement level and 127.2% Fibonacci extension level
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.