NZDUSD bounce from our Pivot point. Potential for rise.
Description:
Price is bouncing from our Pivot point of 0.71909, which is in line with 78.6%, 161.8% Fibonacci retracement, 78.6%, 100% Fibonacci extension and ascending trendline support. A potential rise from here towards our first resistance level of 0.72647, in line with 61.8% Fibonacci retracement and 50% fibonacci extension. Please note that price is trending above the ascending trendline and Stochastics (13,5,3) is showing bullish pressure where price have previously reacted from the 32.27 level.
Pivot: 0.71909
Why we like it:
78.6%, 161.8% Fibonacci retracement, 78.6%, 100% Fibonacci extension and ascending trendline support
1st Support: 0.71463
Why we like it:
241% Fibonacci retracement, 100% Fibonacci extension and horizontal graphical overlap.
1st Resistance: 0.72647
Why we like it:
61.8% Fibonacci retracement, 50% fibonacci extension and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
Price is bouncing from our Pivot point of 0.71909, which is in line with 78.6%, 161.8% Fibonacci retracement, 78.6%, 100% Fibonacci extension and ascending trendline support. A potential rise from here towards our first resistance level of 0.72647, in line with 61.8% Fibonacci retracement and 50% fibonacci extension. Please note that price is trending above the ascending trendline and Stochastics (13,5,3) is showing bullish pressure where price have previously reacted from the 32.27 level.
Pivot: 0.71909
Why we like it:
78.6%, 161.8% Fibonacci retracement, 78.6%, 100% Fibonacci extension and ascending trendline support
1st Support: 0.71463
Why we like it:
241% Fibonacci retracement, 100% Fibonacci extension and horizontal graphical overlap.
1st Resistance: 0.72647
Why we like it:
61.8% Fibonacci retracement, 50% fibonacci extension and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.