NZDUSD, H4 is reversing from our Pivot. Potential for a drop.
Price is reversing from our Pivot point of 0.69946, which is in line with 161.8%, 78.6% Fibonacci retracement and horizontal graphical overlap. A potential drop from here towards our first support level of 0.68874, in line with the -27% fibonacci retracement, 200% fibonacci extension and horizontal graphical overlap. It is worth noting that price is under the Ichimoku cloud in line with our bearish analysis.
Description:
Pivot: 0.69946
Why we like it:
161.8%, 78.6% Fibonacci retracement and horizontal graphical overlap
1st Support: 0.68874
Why we like it:
-27% fibonacci retracement, 200% fibonacci extension and horizontal graphical overlap
1st Resistance: 0.70548
Why we like it:
61.8%, 127%, -61.8% fibonacci retracement and ichimoku cloud resistance.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.