#NZDUSD, H4 bounced from our Pivot. Potential for a rise.

May 18, 2021

Price has bounced from our Pivot point of 0.71804, which is in line with 61.8% Fibonacci retracement, 50% fibonacci extension and ascending trendline. A potential rise from here towards our first resistance level of 0.72897, in line with the 78.6%, -27% fibonacci retracement and horizontal swing high. Do note that price is trending above the ascending trendline, in line with our bullish analysis.
Description:

Pivot: 0.71804
Why we like it:
61.8% Fibonacci retracement, 50% fibonacci extension and ascending trendline

1st Support: 0.71847
Why we like it:
88% fibonacci retracement, 61.8% fibonacci extension and horizontal swing low

1st Resistance: 0.72897
Why we like it:
78.6%, -27% fibonacci retracement and horizontal swing high
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