#NZDUSD is at pivot, potential for a drop
Price is reacting below our pivot level at 0.69373 which is in line with 38.2% Fibonacci retracement level. Price could potentially drops towards support at 0.68689 which is in line with 127.2% Fibonacci retracement level and 200% Fibonacci extension.
Alternatively, price may swing towards resistance at 0.69844, which coincides with 61.8% Fibonacci retracement level and 127.2% Fibonacci extension level.
Pivot:
0.69373
Why we like it:
38.2% Fibonacci retracement level
1st Support:
0.68689
127.2% Fibonacci retracement level and 200% Fibonacci extension
1st Resistance:
0.69844
61.8% Fibonacci retracement level and 127.2% Fibonacci extension level
Trading FX & CFDs carries high risk.
Alternatively, price may swing towards resistance at 0.69844, which coincides with 61.8% Fibonacci retracement level and 127.2% Fibonacci extension level.
Pivot:
0.69373
Why we like it:
38.2% Fibonacci retracement level
1st Support:
0.68689
127.2% Fibonacci retracement level and 200% Fibonacci extension
1st Resistance:
0.69844
61.8% Fibonacci retracement level and 127.2% Fibonacci extension level
Trading FX & CFDs carries high risk.
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