NZDUSD is reversing to our Pivot point. Potential for bounce!
Price is reversing towards the Pivot point of 0.70269, which is in line with 23.6%, 78.6% Fibonacci retracement and horizontal graphical overlap. A bounce from here could see it rise to our first resistance level of 0.70634, in line with 61.8% Fibonacci extension and horizontal swing high resistance. It is worth noting that the Ichimoku Cloud and ascending trendline are both showing bullish momentum which is in line with our analysis.
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