NZDUSD, H4 is testing our Pivot point. Potential for a rise.
Price is testing our Pivot point of 0.72504, which is in line with 78.6%, 23.6% Fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap. A potential rise from here towards our first resistance level of 0.72504, in line with 50%, 61.8% fibonacci retracement, 61.8% fibonacci extension and Horizontal swing high resistance. Please note that price is trending within the bullish channel, in line with our bullish view.
Description:
Pivot: 0.72504
Why we like it:
78.6%, 23.6% Fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
1st Support: 0.71869
Why we like it:
88%, 61.8% fibonacci retracement and horizontal graphical overlap.
1st Resistance: 0.72504
Why we like it:
50%, 61.8% fibonacci retracement, 61.8% fibonacci extension and Horizontal swing high resistance
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