NZDUSD reversed from our Pivot point. Potential for a drop
Description:
Price has reversed from our Pivot point of 0.72228, which is in line with 78.6% Fibonacci retracement, 76.4% Fibonacci extension and horizontal graphical resistance. A potential drop from here towards our first support level of 0.71547, in line with 78.6% fibonacci retracement, 78.6% fibonacci extension and horizontal swing low support. Please note that price is trending under the descending trendline, showing bearish pressure.
Pivot: 0.72228
Why we like it:
78.6% Fibonacci retracement, 76.4% Fibonacci extension and horizontal graphical resistance
1st Support: 0.71547
Why we like it:
78.6% fibonacci retracement, 78.6% fibonacci extension and horizontal swing low support
1st Resistance: 0.72625
Why we like it:
76.4% Fibonacci retracement, 100% fibonacci extension and horizontal graphical resistance.
Trading FX & CFDs carries high risk.
Price has reversed from our Pivot point of 0.72228, which is in line with 78.6% Fibonacci retracement, 76.4% Fibonacci extension and horizontal graphical resistance. A potential drop from here towards our first support level of 0.71547, in line with 78.6% fibonacci retracement, 78.6% fibonacci extension and horizontal swing low support. Please note that price is trending under the descending trendline, showing bearish pressure.
Pivot: 0.72228
Why we like it:
78.6% Fibonacci retracement, 76.4% Fibonacci extension and horizontal graphical resistance
1st Support: 0.71547
Why we like it:
78.6% fibonacci retracement, 78.6% fibonacci extension and horizontal swing low support
1st Resistance: 0.72625
Why we like it:
76.4% Fibonacci retracement, 100% 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.