NZDUSD, H4 is bouncing from our Pivot. Potential for a rise.
Price is bouncing from our Pivot point of 0.70000, which is in line with 61.8% Fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap. A potential rise from here towards our first resistance level of 0.71026, in line with the -27% and 61.8% fibonacci retracement. It is worth noting that price is above the Ichimoku cloud, in line with our bullish analysis.
Description:
Pivot: 0.70000
Why we like it:
61.8% Fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap
1st Support: 0.69608
Why we like it:
88% fibonacci retracement, 127% fibonacci extension and horizontal graphical swing low.
1st Resistance: 0.71026
Why we like it:
-27% and 61.8% fibonacci retracement
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