NZDUSD, H4 is at our Pivot. Potential for a rise.
Price is bouncing from our Pivot point of 0.71758, which is in line with 50%, 61.8% Fibonacci retracement, ascending trendline support and horizontal graphical overlap. A potential rise from here towards our first resistance level of 0.72374, in line with the -27% fibonacci retracement, 78.6% fibonacci extension and horizontal swing high area. It is worth noting that price is trending above the ascending trendline, in line with our analysis.
Description:
Pivot: 0.71758
Why we like it:
50%, 61.8% Fibonacci retracement, ascending trendline support and horizontal graphical overlap
1st Support: 0.71323
Why we like it:
78.6% fibonacci retracement, 100% fibonacci extension and horizontal swing low area
1st Resistance: 0.72374
Why we like it:
-27% fibonacci retracement, 78.6% fibonacci extension and horizontal swing high area
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