#NZDUSD, H4 approaching our Pivot. Potential for a bounce.

٤ يونيو ٢٠٢١

Price is approaching our Pivot point of 0.71280, which is in line with 161.8%, 61.8% fibonacci extension and horizontal swing low. A potential rise from here towards our first resistance level of 0.72238, in line with the 78.6% fibonacci retracement, 61.8%, 127% fibonacci extension and horizontal graphical overlap. Do note that Stochastics is showing bullish pressure where price has previously reversed from 10% level, in line with our bullish analysis.
Description:

Pivot: 0.71280
Why we like it:
161.8%, 61.8% fibonacci extension and horizontal swing low

1st Support: 0.70588
Why we like it:
161.8% fibonacci retracement and 100% fibonacci extension

1st Resistance: 0.72238
Why we like it:
78.6% fibonacci retracement, 61.8%, 127% fibonacci extension and horizontal graphical overlap
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