#NZDUSD is at pivot, potential for a drop
Price is reacting at our pivot level at 0.69630 which is in line with 61.8% Fibonacci retracement level, 161.8% Fibonacci extension level and 200MA. Price could potentially drop to support at 0.68940 which coincides with 50% Fibonacci retracement level and 61.8% Fibonacci extension level. Stochastic is also at resistance level where previous drops occurred.
Alternatively, price could potentially swing towards resistance at 0.69960, which coincides with 78.6% Fibonacci retracement level and 200% Fibonacci extension level.
Pivot:
0.69630
Why we like it:
61.8% Fibonacci retracement level, 161.8% Fibonacci extension level and 200MA
1st Support:
0.68940
50% Fibonacci retracement level and 61.8% Fibonacci extension level
1st Resistance:
0.69960
78.6% Fibonacci retracement level and 200% Fibonacci extension level
Trading FX & CFDs carries high risk.
Alternatively, price could potentially swing towards resistance at 0.69960, which coincides with 78.6% Fibonacci retracement level and 200% Fibonacci extension level.
Pivot:
0.69630
Why we like it:
61.8% Fibonacci retracement level, 161.8% Fibonacci extension level and 200MA
1st Support:
0.68940
50% Fibonacci retracement level and 61.8% Fibonacci extension level
1st Resistance:
0.69960
78.6% Fibonacci retracement level and 200% Fibonacci extension level
Trading FX & CFDs carries high risk.
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