NZDUSD, H4 has reversed from our Pivot point. Potential for a d
Price has reversed from our Pivot point of 0.72099, which is in line with 78.6% Fibonacci retracement, 61.8% Fibonacci extension, descending trendline resistance and horizontal graphical resistance. A potential drop from here towards our first support level of 0.71675, in line with 61.8% fibonacci retracement, 50% fibonacci extension. Please note that price is trending under the descending trendline, showing bearish pressure.
Description:
Pivot: 0.72099
Why we like it:
78.6% Fibonacci retracement, 61.8% Fibonacci extension, descending trendline resistance and horizontal graphical resistance
1st Support: 0.71675
Why we like it:
61.8% fibonacci retracement, 50% fibonacci extension
1st Resistance: 0.72345
Why we like it:
61.8%, -27% Fibonacci retracement, 78.6% fibonacci extension and horizontal graphical resistance.
Trading FX & CFDs carries high risk.
Description:
Pivot: 0.72099
Why we like it:
78.6% Fibonacci retracement, 61.8% Fibonacci extension, descending trendline resistance and horizontal graphical resistance
1st Support: 0.71675
Why we like it:
61.8% fibonacci retracement, 50% fibonacci extension
1st Resistance: 0.72345
Why we like it:
61.8%, -27% Fibonacci retracement, 78.6% fibonacci extension and horizontal graphical resistance.
Trading FX & CFDs carries high risk.
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.