NZDUSD, H4 testing our Pivot point. Potential for further rise
Description:
Price is testing from our Pivot point of 0.71898, which is in line with 61.8% Fibonacci retracement, 78.6%, 127% Fibonacci extension and moving average support. A potential rise from here towards our first resistance level of 0.72331, in line with 61.8% Fibonacci retracement and horizontal graphical resistance. Please note that price is trending above the moving average, which is in line with our bullish analysis.
Pivot: 0.71898
Why we like it:
61.8% Fibonacci retracement, 78.6%, 127% Fibonacci extension and moving average support
1st Support: 0.71540
Why we like it:
241% Fibonacci retracement, 100% Fibonacci extension and horizontal graphical overlap.
1st Resistance: 0.72331
Why we like it:
61.8% Fibonacci retracement and horizontal graphical resistance
Trading FX & CFDs carries high risk.
Price is testing from our Pivot point of 0.71898, which is in line with 61.8% Fibonacci retracement, 78.6%, 127% Fibonacci extension and moving average support. A potential rise from here towards our first resistance level of 0.72331, in line with 61.8% Fibonacci retracement and horizontal graphical resistance. Please note that price is trending above the moving average, which is in line with our bullish analysis.
Pivot: 0.71898
Why we like it:
61.8% Fibonacci retracement, 78.6%, 127% Fibonacci extension and moving average support
1st Support: 0.71540
Why we like it:
241% Fibonacci retracement, 100% Fibonacci extension and horizontal graphical overlap.
1st Resistance: 0.72331
Why we like it:
61.8% Fibonacci retracement and horizontal graphical resistance
Trading FX & CFDs carries high risk.