NZDUSD, H4 is bouncing our Pivot. Potential for a rise.
Price is bouncing from our Pivot point of 0.72496, which is in line with 38.2% Fibonacci retracement, 61.8% and 78.6% fibonacci extension. A potential rise from here towards our first resistance level of 0.73138, in line with the -27% fibonacci retracement and 127% fibonacci extension. Do note that price is trending above the ascending trendline, in line with our bullish analysis.
Description:
Pivot: 0.72496
Why we like it:
38.2% Fibonacci retracement, 61.8% and 78.6% fibonacci extension
1st Support: 0.72007
Why we like it:
88% fibonacci retracement, 161.8% fibonacci extension and horizontal swing low support.
1st Resistance: 0.73138
Why we like it:
-27% fibonacci retracement and 127% fibonacci extension
Trading FX & CFDs carries high risk.
Description:
Pivot: 0.72496
Why we like it:
38.2% Fibonacci retracement, 61.8% and 78.6% fibonacci extension
1st Support: 0.72007
Why we like it:
88% fibonacci retracement, 161.8% fibonacci extension and horizontal swing low support.
1st Resistance: 0.73138
Why we like it:
-27% fibonacci retracement and 127% fibonacci extension
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.