#NZDUSD, H4 bounced from our Pivot. Potential for a rise.
Price has bounced from our Pivot point of 0.71661, which is in line with 78.6% Fibonacci retracement, 61.8% fibonacci extension and ascending trendline. A potential rise from here towards our first resistance level of 0.72466, in line with the 78.6% fibonacci retracement, 100% fibonacci extension and horizontal swing high. Do note that price is trending above the ascending trendline, in line with our bullish analysis.
Description:
Pivot: 0.71661
Why we like it:
78.6% Fibonacci retracement, 61.8% fibonacci extension and ascending trendline
1st Support: 0.71009
Why we like it:
127% fibonacci retracement and 100% fibonacci extension
1st Resistance: 0.72466
Why we like it:
78.6% fibonacci retracement, 100% fibonacci extension and horizontal swing high
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