#NZDUSD is at pivot, potential for bounce!
Price is reacting above pivot level at 0.69765, in-line with 50% Fibonacci retracement and 61.8% Fibonacci extension level. Price could potentially swing towards resistance at 0.70715, in-line with 61.8% Fibonacci retracement , 78.6% Fibonacci extension level and descending trendline resistance.
Alternatively, price could potentially drop to support level at 0.69450, in-line with 61.8% Fibonacci retracement level and 78.6% Fibonacci extension level.
Pivot:
0.69765
Why we like it:
50% Fibonacci retracement and 61.8% Fibonacci extension level
1st Support:
0.69450
61.8% Fibonacci retracement level and 78.6% Fibonacci extension level
1st Resistance:
0.70715
61.8% Fibonacci retracement , 78.6% Fibonacci extension level and descending trendline resistance
Trading FX & CFDs carries high risk.
Alternatively, price could potentially drop to support level at 0.69450, in-line with 61.8% Fibonacci retracement level and 78.6% Fibonacci extension level.
Pivot:
0.69765
Why we like it:
50% Fibonacci retracement and 61.8% Fibonacci extension level
1st Support:
0.69450
61.8% Fibonacci retracement level and 78.6% Fibonacci extension level
1st Resistance:
0.70715
61.8% Fibonacci retracement , 78.6% Fibonacci extension level and descending trendline resistance
Trading FX & CFDs carries high risk.
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