#NZDUSD, H4 approaching our Pivot. Potential for a bounce.
Price is approaching our Pivot point of 0.72157, which is in line with 61.8% Fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. A potential rise from here towards our first resistance level of 0.72737, in line with the 61.8% fibonacci retracement and horizontal graphical overlap. Do note that price is above the Ichimoku cloud, in line with our bullish analysis.
Description:
Pivot: 0.72157
Why we like it:
61.8% Fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 0.71886
Why we like it:
78.6% fibonacci retracement and 78.6% fibonacci extension.
1st Resistance: 0.72737
Why we like it:
61.8% fibonacci retracement and horizontal graphical overlap
Trading FX & CFDs carries high risk.
Description:
Pivot: 0.72157
Why we like it:
61.8% Fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 0.71886
Why we like it:
78.6% fibonacci retracement and 78.6% fibonacci extension.
1st Resistance: 0.72737
Why we like it:
61.8% fibonacci retracement and horizontal graphical overlap
Trading FX & CFDs carries high risk.
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