NZDUSD, H4 is approaching our Pivot point. Potential for bounce
Price is approaching our Pivot point of 0.73152, which is in line with 50%, 23.6% Fibonacci retracement and horizontal graphical overlap. A potential rise from here towards our first resistance level of 0.73645, in line with -27% fibonacci retracement and 61.8% fibonacci extension. Please note that price is trending above the Ichimoku cloud and MACD is above the 0 line, in line with our bullish view.
Description:
Pivot: 0.73152
Why we like it:
50%, 23.6% Fibonacci retracement and horizontal graphical overlap
1st Support: 0.72751
Why we like it:
50% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap.
1st Resistance: 0.73645
Why we like it:
-27% fibonacci retracement and 61.8% fibonacci extension
Trading FX & CFDs carries high risk.
Description:
Pivot: 0.73152
Why we like it:
50%, 23.6% Fibonacci retracement and horizontal graphical overlap
1st Support: 0.72751
Why we like it:
50% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap.
1st Resistance: 0.73645
Why we like it:
-27% fibonacci retracement and 61.8% fibonacci extension
Trading FX & CFDs carries high risk.
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