NZDUSD, H4 approaching our Pivot point. Potential for drop
Description:
Price is approaching our Pivot point of 0.71063, which is in line with 61.8% Fibonacci retracement, 88% Fibonacci extension and horizontal graphical resistance. A potential drop from here towards our first support level of 0.70802, in line with 61.8% and 38.2% Fibonacci retracement.
Pivot: 0.71063
Why we like it:
61.8% Fibonacci retracement, 88% Fibonacci extension and horizontal graphical resistance
1st Support: 0.70802
Why we like it:
61.8% and 38.2% Fibonacci retracement.
1st Resistance: 0.71353
Why we like it:
-68%, 78.6% fibonacci retracement and horizontal graphical overlap resistance.
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point of 0.71063, which is in line with 61.8% Fibonacci retracement, 88% Fibonacci extension and horizontal graphical resistance. A potential drop from here towards our first support level of 0.70802, in line with 61.8% and 38.2% Fibonacci retracement.
Pivot: 0.71063
Why we like it:
61.8% Fibonacci retracement, 88% Fibonacci extension and horizontal graphical resistance
1st Support: 0.70802
Why we like it:
61.8% and 38.2% Fibonacci retracement.
1st Resistance: 0.71353
Why we like it:
-68%, 78.6% fibonacci retracement and horizontal graphical overlap 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.