#NZDUSD, H4 approaching our Pivot. Potential for a bounce.
Price is approaching our Pivot point of 0.72425, which is in line with 61.8% Fibonacci retracement, 50% fibonacci extension and horizontal graphical overlap. A potential rise from here towards our first resistance level of 0.73089, in line with the -27%, 88.6% fibonacci retracement, 78.6% fibonacci extension and horizontal swing high. Do note that price is above the Ichimoku cloud, in line with our bullish analysis.
Description:
Pivot: 0.72425
Why we like it:
61.8% Fibonacci retracement, 50% fibonacci extension and horizontal graphical overlap
1st Support: 0.72107
Why we like it:
78.6% fibonacci extension and horizontal swing low.
1st Resistance: 0.73089
Why we like it:
-27%, 88.6% fibonacci retracement, 78.6% fibonacci extension and horizontal swing high
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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.