NZDUSD, H4 is reaching from our Pivot. Potential for a drop.
Price is reaching our Pivot point of 0.69780, which is in line with 88%,61.8% Fibonacci retracement, 161.8% fibonacci extension and horizontal graphical overlap. A potential drop from here towards our first support level of 0.69207, in line with the 127% fibonacci retracement and 127% fibonacci extension. It is worth noting that the price is under the Ichimoku cloud in line with our bearish analysis.
Description:
Pivot: 0.69780
Why we like it:
88%,61.8% Fibonacci retracement, 161.8% fibonacci extension and horizontal graphical overlap
1st Support: 0.69207
Why we like it:
127% fibonacci retracement and 127% fibonacci extension
1st Resistance: 0.70353
Why we like it:
100%, 127% fibonacci extension and horizontal swing high.
Trading FX & CFDs carries high risk.
Description:
Pivot: 0.69780
Why we like it:
88%,61.8% Fibonacci retracement, 161.8% fibonacci extension and horizontal graphical overlap
1st Support: 0.69207
Why we like it:
127% fibonacci retracement and 127% fibonacci extension
1st Resistance: 0.70353
Why we like it:
100%, 127% fibonacci extension and horizontal swing high.
Trading FX & CFDs carries high risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.