#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
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