#NZDUSD is at pivot, potential for a bounce
Price is reacting at our pivot level at 0.68040 which is in line with -27.2% Fibonacci retracement level and 127.2% Fibonacci extension. Price could potentially bounce towards resistance at 0.68820 which coincides with 38.2% Fibonacci retracement level and 78.6% Fibonacci extension level. Stochastic is also at support level where previous bounces occurred
Alternatively, price may drop towards support at 0.67575, which coincides with -61.8% Fibonacci retracement level and 161.8% Fibonacci extension level.
Pivot:
0.68040
Why we like it:
-27.2% Fibonacci retracement level and 127.2% Fibonacci extension
1st Support:
0.67575
-61.8% Fibonacci retracement level and 161.8% Fibonacci extension level
1st Resistance:
0.68820
38.2% Fibonacci retracement level and 78.6% Fibonacci extension level
Trading FX & CFDs carries high risk.
Alternatively, price may drop towards support at 0.67575, which coincides with -61.8% Fibonacci retracement level and 161.8% Fibonacci extension level.
Pivot:
0.68040
Why we like it:
-27.2% Fibonacci retracement level and 127.2% Fibonacci extension
1st Support:
0.67575
-61.8% Fibonacci retracement level and 161.8% Fibonacci extension level
1st Resistance:
0.68820
38.2% Fibonacci retracement level and 78.6% Fibonacci extension level
Trading FX & CFDs carries high risk.
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