#NZDUSD is at pivot, potential for a drop
Price is reacting at our pivot level at 0.69630 which is in line with 61.8% Fibonacci retracement level, 161.8% Fibonacci extension level and 200MA. Price could potentially drop to support at 0.68940 which coincides with 50% Fibonacci retracement level and 61.8% Fibonacci extension level. Stochastic is also at resistance level where previous drops occurred.
Alternatively, price could potentially swing towards resistance at 0.69960, which coincides with 78.6% Fibonacci retracement level and 200% Fibonacci extension level.
Pivot:
0.69630
Why we like it:
61.8% Fibonacci retracement level, 161.8% Fibonacci extension level and 200MA
1st Support:
0.68940
50% Fibonacci retracement level and 61.8% Fibonacci extension level
1st Resistance:
0.69960
78.6% Fibonacci retracement level and 200% Fibonacci extension level
Trading FX & CFDs carries high risk.
Alternatively, price could potentially swing towards resistance at 0.69960, which coincides with 78.6% Fibonacci retracement level and 200% Fibonacci extension level.
Pivot:
0.69630
Why we like it:
61.8% Fibonacci retracement level, 161.8% Fibonacci extension level and 200MA
1st Support:
0.68940
50% Fibonacci retracement level and 61.8% Fibonacci extension level
1st Resistance:
0.69960
78.6% Fibonacci retracement level and 200% 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.