NZDUSD, H4 bounced from our Pivot point. Potential for a rise
Price is bouncing from our Pivot point of 0.72259, which is in line with 38.2%, 78.6% Fibonacci retracement, 61.8%, 88% Fibonacci extension and horizontal graphical resistance. A potential rise from here towards our first resistance level of 0.72545, in line with -27% fibonacci retracement, 100% fibonacci extension. Please note that price is trending above the Ichimoku cloud and MACD is above 0, in line with our bullish view.
Description:
Pivot: 0.72259
Why we like it:
38.2%, 78.6% Fibonacci retracement, 61.8%, 88% Fibonacci extension and horizontal graphical resistance
1st Support: 0.72089
Why we like it:
61.8% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap.
1st Resistance: 0.72545
Why we like it:
61.8%, -27% Fibonacci retracement, 78.6% fibonacci extension and horizontal graphical resistance.
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