#NZDUSD, H4 bounced from our Pivot. Potential for a rise.
Price has bounced from our Pivot point of 0.72667, which is in line with 50% Fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap. A potential rise from here towards our first resistance level of 0.73302, in line with the 127% fibonacci retracement, 127% fibonacci extension and horizontal swing high. Do note that price is above the descending trendline resistance turned-support, and Ichimoku cloud in line with our bullish analysis.
Description:
Pivot: 0.72667
Why we like it:
50% Fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap
1st Support: 0.72290
Why we like it:
127% fibonacci extension and horizontal swing low
1st Resistance: 0.73302
Why we like it:
127% fibonacci retracement, 127% fibonacci extension and horizontal swing high
Trading FX & CFDs carries high risk.
Description:
Pivot: 0.72667
Why we like it:
50% Fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap
1st Support: 0.72290
Why we like it:
127% fibonacci extension and horizontal swing low
1st Resistance: 0.73302
Why we like it:
127% fibonacci retracement, 127% fibonacci extension and horizontal swing high
Trading FX & CFDs carries high risk.
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