#NZDUSD, H4 bounced from our Pivot. Potential for a rise.
Price has bounced from our Pivot point of 0.71661, which is in line with 78.6% Fibonacci retracement, 61.8% fibonacci extension and ascending trendline. A potential rise from here towards our first resistance level of 0.72466, in line with the 78.6% fibonacci retracement, 100% fibonacci extension and horizontal swing high. Do note that price is trending above the ascending trendline, in line with our bullish analysis.
Description:
Pivot: 0.71661
Why we like it:
78.6% Fibonacci retracement, 61.8% fibonacci extension and ascending trendline
1st Support: 0.71009
Why we like it:
127% fibonacci retracement and 100% fibonacci extension
1st Resistance: 0.72466
Why we like it:
78.6% fibonacci retracement, 100% fibonacci extension and horizontal swing high
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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.