NZDUSD, H4 bounced off our Pivot point. Potential for rise.
Description:
Price is bouncing off our Pivot point of 0.70319, which is in line with 61.8% Fibonacci retracement and horizontal graphical overlap. A bounce from here could see it rise to our first resistance level of 0.70689, in line with 61.8% Fibonacci extension and 61.8% Fibonacci retracement. It is worth noting that the Ichimoku Cloud and EMA (55) are both showing bullish momentum, in line with our analysis.
Pivot: 0.70319
Why we like it:
61.8% Fibonacci retracement and horizontal graphical overlap
1st Support: 0.70132
Why we like it:
88% Fibonacci retracement and horizontal graphical overlap
1st Resistance: 0.70689
Why we like it:
61.8% Fibonacci extension and 61.8% Fibonacci retracement
Trading FX & CFDs carries high risk.
Price is bouncing off our Pivot point of 0.70319, which is in line with 61.8% Fibonacci retracement and horizontal graphical overlap. A bounce from here could see it rise to our first resistance level of 0.70689, in line with 61.8% Fibonacci extension and 61.8% Fibonacci retracement. It is worth noting that the Ichimoku Cloud and EMA (55) are both showing bullish momentum, in line with our analysis.
Pivot: 0.70319
Why we like it:
61.8% Fibonacci retracement and horizontal graphical overlap
1st Support: 0.70132
Why we like it:
88% Fibonacci retracement and horizontal graphical overlap
1st Resistance: 0.70689
Why we like it:
61.8% Fibonacci extension and 61.8% Fibonacci retracement
Trading FX & CFDs carries high risk.
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