NZDUSD, H4 approaching our Pivot point. Potential for drop
Description:
Price is approaching our Pivot point of 0.71063, which is in line with 61.8% Fibonacci retracement, 88% Fibonacci extension and horizontal graphical resistance. A potential drop from here towards our first support level of 0.70802, in line with 61.8% and 38.2% Fibonacci retracement.
Pivot: 0.71063
Why we like it:
61.8% Fibonacci retracement, 88% Fibonacci extension and horizontal graphical resistance
1st Support: 0.70802
Why we like it:
61.8% and 38.2% Fibonacci retracement.
1st Resistance: 0.71353
Why we like it:
-68%, 78.6% fibonacci retracement and horizontal graphical overlap resistance.
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point of 0.71063, which is in line with 61.8% Fibonacci retracement, 88% Fibonacci extension and horizontal graphical resistance. A potential drop from here towards our first support level of 0.70802, in line with 61.8% and 38.2% Fibonacci retracement.
Pivot: 0.71063
Why we like it:
61.8% Fibonacci retracement, 88% Fibonacci extension and horizontal graphical resistance
1st Support: 0.70802
Why we like it:
61.8% and 38.2% Fibonacci retracement.
1st Resistance: 0.71353
Why we like it:
-68%, 78.6% fibonacci retracement and horizontal graphical overlap resistance.
Trading FX & CFDs carries high risk.
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