NZDUSD, H4 is testing our Pivot point. Potential for further ris
Description:
Price is currently testing our Pivot point of 0.71181, which is in line with 38.2%, 61.8% Fibonacci retracement, 61.8% Fibonacci extension and horizontal graphical overlap. A potential rise from here towards our first resistance level of 0.71734 could be expected. It is noteworthy that price is currently trending above the Ichimoku cloud and ascending trendline, in line with our bullish view.
Pivot: 0.71181
Why we like it:
38.2%, 61.8% Fibonacci retracement, 61.8% Fibonacci extension and horizontal graphical overlap
1st Support: 0.70877
Why we like it:
50% Fibonacci retracement, 61.8% Fibonacci extension and horizontal graphical support.
1st Resistance: 0.71734
Why we like it:
-27%, 161.8% fibonacci retracement, 78.6% Fibonacci extension and horizontal graphical overlap resistance.
Trading FX & CFDs carries high risk.
Price is currently testing our Pivot point of 0.71181, which is in line with 38.2%, 61.8% Fibonacci retracement, 61.8% Fibonacci extension and horizontal graphical overlap. A potential rise from here towards our first resistance level of 0.71734 could be expected. It is noteworthy that price is currently trending above the Ichimoku cloud and ascending trendline, in line with our bullish view.
Pivot: 0.71181
Why we like it:
38.2%, 61.8% Fibonacci retracement, 61.8% Fibonacci extension and horizontal graphical overlap
1st Support: 0.70877
Why we like it:
50% Fibonacci retracement, 61.8% Fibonacci extension and horizontal graphical support.
1st Resistance: 0.71734
Why we like it:
-27%, 161.8% fibonacci retracement, 78.6% Fibonacci extension and horizontal graphical overlap resistance.
Trading FX & CFDs carries high risk.
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