NZDUSD, H4 has reached our Pivot point. Potential for a bounce.
Price is bouncing from our Pivot point of 0.72223, which is in line with 61.8%, 88% Fibonacci retracement and horizontal graphical resistance. A potential rise from here towards our first resistance level of 0.72514, in line with 127%, 61.8% fibonacci extension and Horizontal swing high resistance. Please note that price is trending above the ascending trendline, in line with our bullish view.
Description:
Pivot: 0.72223
Why we like it:
61.8%, 88% Fibonacci retracement and horizontal graphical resistance
1st Support: 0.72070
Why we like it:
78.6%, 61.8%, 23.6% fibonacci extension and horizontal graphical overlap.
1st Resistance: 0.72514
Why we like it:
127%, 61.8% fibonacci extension and Horizontal swing high resistance
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