NZDUSD bounce from our Pivot point. Potential for rise.
Description:
Price is bouncing from our Pivot point of 0.71909, which is in line with 78.6%, 161.8% Fibonacci retracement, 78.6%, 100% Fibonacci extension and ascending trendline support. A potential rise from here towards our first resistance level of 0.72647, in line with 61.8% Fibonacci retracement and 50% fibonacci extension. Please note that price is trending above the ascending trendline and Stochastics (13,5,3) is showing bullish pressure where price have previously reacted from the 32.27 level.
Pivot: 0.71909
Why we like it:
78.6%, 161.8% Fibonacci retracement, 78.6%, 100% Fibonacci extension and ascending trendline support
1st Support: 0.71463
Why we like it:
241% Fibonacci retracement, 100% Fibonacci extension and horizontal graphical overlap.
1st Resistance: 0.72647
Why we like it:
61.8% Fibonacci retracement, 50% fibonacci extension and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
Price is bouncing from our Pivot point of 0.71909, which is in line with 78.6%, 161.8% Fibonacci retracement, 78.6%, 100% Fibonacci extension and ascending trendline support. A potential rise from here towards our first resistance level of 0.72647, in line with 61.8% Fibonacci retracement and 50% fibonacci extension. Please note that price is trending above the ascending trendline and Stochastics (13,5,3) is showing bullish pressure where price have previously reacted from the 32.27 level.
Pivot: 0.71909
Why we like it:
78.6%, 161.8% Fibonacci retracement, 78.6%, 100% Fibonacci extension and ascending trendline support
1st Support: 0.71463
Why we like it:
241% Fibonacci retracement, 100% Fibonacci extension and horizontal graphical overlap.
1st Resistance: 0.72647
Why we like it:
61.8% Fibonacci retracement, 50% fibonacci extension and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
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