#NZDUSD, H4 testing our Pivot. Potential for a rise.
Price is testing our Pivot point of 0.72261, which is in line with 78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. A potential rise from here towards our first resistance level of 0.72882, in line with the 127% fibonacci retracement, 100% fibonacci extension and horizontal swing high. Do note that price is above the moving average, in line with our bullish analysis.
Description:
Pivot: 0.72261
Why we like it:
78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 0.71863
Why we like it:
50% fibonacci retracement.
1st Resistance: 0.72882
Why we like it:
127% fibonacci retracement, 100% fibonacci extension and horizontal swing high
Trading FX & CFDs carries high risk.
Description:
Pivot: 0.72261
Why we like it:
78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 0.71863
Why we like it:
50% fibonacci retracement.
1st Resistance: 0.72882
Why we like it:
127% fibonacci retracement, 100% fibonacci extension and horizontal swing high
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.