#NZDUSD, H4 approaching our Pivot. Potential for a bounce.
Price is approaching our Pivot point of 0.72157, which is in line with 61.8% Fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. A potential rise from here towards our first resistance level of 0.72737, in line with the 61.8% fibonacci retracement and horizontal graphical overlap. Do note that price is above the Ichimoku cloud, in line with our bullish analysis.
Description:
Pivot: 0.72157
Why we like it:
61.8% Fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 0.71886
Why we like it:
78.6% fibonacci retracement and 78.6% fibonacci extension.
1st Resistance: 0.72737
Why we like it:
61.8% fibonacci retracement and horizontal graphical overlap
Trading FX & CFDs carries high risk.
Description:
Pivot: 0.72157
Why we like it:
61.8% Fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 0.71886
Why we like it:
78.6% fibonacci retracement and 78.6% fibonacci extension.
1st Resistance: 0.72737
Why we like it:
61.8% fibonacci retracement and horizontal graphical overlap
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.