NZDUSD, H4 bounced off our Pivot point. Potential for rise.
Description:
Price has bounced from our Pivot point of 0.70858, which is in line with 38.2% Fibonacci retracement, 50% Fibonacci extension and horizontal graphical overlap. A potential rise from here towards our first resistance level of 0.71367, in line with 161.8% and 127.2% Fibonacci retracement level is possible. It is worth noting that price is trending above EMA (89) and ascending trendline in line with our bullish momentum.
Pivot: 0.70858
Why we like it:
38.2% Fibonacci retracement, 50% Fibonacci extension and horizontal graphical overlap
1st Support: 0.70527
Why we like it:
61.8%, 127% Fibonacci retracement, ascending trendline support and horizontal graphical overlap
1st Resistance: 0.71367
Why we like it:
161.8% and 127.2% Fibonacci retracement
Trading FX & CFDs carries high risk.
Price has bounced from our Pivot point of 0.70858, which is in line with 38.2% Fibonacci retracement, 50% Fibonacci extension and horizontal graphical overlap. A potential rise from here towards our first resistance level of 0.71367, in line with 161.8% and 127.2% Fibonacci retracement level is possible. It is worth noting that price is trending above EMA (89) and ascending trendline in line with our bullish momentum.
Pivot: 0.70858
Why we like it:
38.2% Fibonacci retracement, 50% Fibonacci extension and horizontal graphical overlap
1st Support: 0.70527
Why we like it:
61.8%, 127% Fibonacci retracement, ascending trendline support and horizontal graphical overlap
1st Resistance: 0.71367
Why we like it:
161.8% and 127.2% Fibonacci retracement
Trading FX & CFDs carries high risk.
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