NZDUSD, H4 is bouncing from our Pivot point. Potential for rise
Description:
Price is approaching our Pivot point of 0.71622, which is in line with 50%, 38.2% Fibonacci retracement, horizontal graphical overlap and ascending trendline support. A potential rise from here towards our first resistance level of 0.72503, in line with 127% Fibonacci retracement and 61.8% fibonacci extension. Please note that price is trending above the Ichimoku cloud and ascending trendline, in line with our bullish view.
Pivot: 0.71622
Why we like it:
50%, 38.2% Fibonacci retracement, horizontal graphical overlap and ascending trendline support
1st Support: 0.71218
Why we like it:
50%, 78.6% Fibonacci retracement, 78.6% Fibonacci extension and horizontal graphical overlap.
1st Resistance: 0.72503
Why we like it:
127% Fibonacci retracement and 61.8% fibonacci extension
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point of 0.71622, which is in line with 50%, 38.2% Fibonacci retracement, horizontal graphical overlap and ascending trendline support. A potential rise from here towards our first resistance level of 0.72503, in line with 127% Fibonacci retracement and 61.8% fibonacci extension. Please note that price is trending above the Ichimoku cloud and ascending trendline, in line with our bullish view.
Pivot: 0.71622
Why we like it:
50%, 38.2% Fibonacci retracement, horizontal graphical overlap and ascending trendline support
1st Support: 0.71218
Why we like it:
50%, 78.6% Fibonacci retracement, 78.6% Fibonacci extension and horizontal graphical overlap.
1st Resistance: 0.72503
Why we like it:
127% Fibonacci retracement and 61.8% fibonacci extension
Trading FX & CFDs carries high risk.
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