#NZDUSD approaching pivot, potential for rise! | 18th Nov

18 нояб. 2021 г.

Price has broken above our pivot level at 0.70218 which is in line with , 50.0% Fibonacci retracement level & horizontal overlap support . We could potentially see a further rise from here towards 0.70942, which coincides with 100% Fibonacci extension level, 76.4% Fibonacci retracement level & horizontal overlap resistance. Finally, we can expect price to take support at 0.69804, which coincides with 61.8% Fibonacci retracement level, 100% Fibonacci extension level & horizontal overlap support . This is further supported by how price is likely to bounce off the RSI support level .

Pivot:
0.70218
Why we like it:
, 50.0% Fibonacci retracement level & horizontal overlap support

1st Support:
0.69804
61.8% Fibonacci retracement level, 100% Fibonacci extension level & horizontal overlap support

1st Resistance:
0.70942
100% Fibonacci extension level, 76.4% Fibonacci retracement level & horizontal overlap resistance

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