#NZDUSD approaching pivot, potential for a bounce!
Price is coming into our pivot level at 0.69510 which is in line with 61.8% Fibonacci retracement level, 200% Fibonacci extension level & ascending trendline support. Price could potentially bounce towards resistance at 0.70100 which is in line with 38.2% Fibonacci retracement level and 127.2% Fibonacci extension. Stochastic is also coming into support where previous bounces occurred.
Alternatively, price may drop to our support at 0.69125, which coincides with 78.6% Fibonacci retracement level, 161.8% Fibonacci extension level & horizontal swing low support.
Pivot:
0.69510
Why we like it:
61.8% Fibonacci retracement level, 200% Fibonacci extension level & ascending trendline support
1st Support:
0.69125
78.6% Fibonacci retracement level, 161.8% Fibonacci extension level & horizontal swing low support
1st Resistance:
0.70100
38.2% Fibonacci retracement level, 127.2% Fibonacci extension level
Trading FX & CFDs carries high risk.
Alternatively, price may drop to our support at 0.69125, which coincides with 78.6% Fibonacci retracement level, 161.8% Fibonacci extension level & horizontal swing low support.
Pivot:
0.69510
Why we like it:
61.8% Fibonacci retracement level, 200% Fibonacci extension level & ascending trendline support
1st Support:
0.69125
78.6% Fibonacci retracement level, 161.8% Fibonacci extension level & horizontal swing low support
1st Resistance:
0.70100
38.2% Fibonacci retracement level, 127.2% 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.