#NZDUSD reaction below pivot, potential for a drop
Price is reaction below our pivot level at 0.70632 which is in line with 78.6% Fibonacci retracement level, 61.8% Fibonacci extension level and horizontal overlap resistance. Price could potentially drops towards support at 0.69976 which is in line with 61.8% Fibonacci retracement level, 61.8% Fibonacci extension and ascending trendline support.
Alternatively, price may swing towards resistance at 0.70870, which coincides with -27.2% Fibonacci retracement level and 78.6% Fibonacci extension level.
Pivot:
0.70632
Why we like it:
78.6% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal overlap resistance
1st Support:
0.69976
61.8% Fibonacci retracement level, 61.8% Fibonacci extension level & ascending trendline support
1st Resistance:
0.70870
-27.2% Fibonacci retracement level, 78.6% Fibonacci extension level
Trading FX & CFDs carries high risk.
Alternatively, price may swing towards resistance at 0.70870, which coincides with -27.2% Fibonacci retracement level and 78.6% Fibonacci extension level.
Pivot:
0.70632
Why we like it:
78.6% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal overlap resistance
1st Support:
0.69976
61.8% Fibonacci retracement level, 61.8% Fibonacci extension level & ascending trendline support
1st Resistance:
0.70870
-27.2% Fibonacci retracement level, 78.6% 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.