NZDUSD, H4 is bouncing our Pivot. Potential for a rise.
Price is bouncing from our Pivot point of 0.72141, which is in line with 78.6% Fibonacci retracement, 61.8% fibonacci extension and moving average support. A potential rise from here towards our first resistance level of 0.73594, in line with the 78.6% and 127% fibonacci retracement. Do note that price is trending above the moving average in line with our bullish analysis.
Description:
Pivot: 0.72141
Why we like it:
78.6% Fibonacci retracement, 61.8% fibonacci extension and moving average support
1st Support: 0.71210
Why we like it:
127% fibonacci retracement and horizontal swing low support.
1st Resistance: 0.73594
Why we like it:
78.6% and 127% fibonacci retracement
Trading FX & CFDs carries high risk.
Description:
Pivot: 0.72141
Why we like it:
78.6% Fibonacci retracement, 61.8% fibonacci extension and moving average support
1st Support: 0.71210
Why we like it:
127% fibonacci retracement and horizontal swing low support.
1st Resistance: 0.73594
Why we like it:
78.6% and 127% fibonacci retracement
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.