NZDUSD, H4 approaching our Pivot point. Potential for rise.
Description:
Price is approaching our Pivot point of 0.71145, which is in line with 38.2% Fibonacci retracement, 88% Fibonacci extension and horizontal graphical overlap. A potential rise from here towards our first resistance level of 0.71714, in line with 100%, 50% Fibonacci extension and horizontal swing high is possible. It is worth noting that price is trending above EMA (89) and ascending trendline in line with our bullish momentum.
Pivot: 0.71145
Why we like it:
38.2% Fibonacci retracement, 88% Fibonacci extension and horizontal graphical overlap
1st Support: 0.70785
Why we like it:
61.8% and 78.6 Fibonacci retracement
1st Resistance: 0.71714
Why we like it:
100%, 50% Fibonacci extension and horizontal swing high
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point of 0.71145, which is in line with 38.2% Fibonacci retracement, 88% Fibonacci extension and horizontal graphical overlap. A potential rise from here towards our first resistance level of 0.71714, in line with 100%, 50% Fibonacci extension and horizontal swing high is possible. It is worth noting that price is trending above EMA (89) and ascending trendline in line with our bullish momentum.
Pivot: 0.71145
Why we like it:
38.2% Fibonacci retracement, 88% Fibonacci extension and horizontal graphical overlap
1st Support: 0.70785
Why we like it:
61.8% and 78.6 Fibonacci retracement
1st Resistance: 0.71714
Why we like it:
100%, 50% Fibonacci extension and horizontal swing high
Trading FX & CFDs carries high risk.
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