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

٢ يونيو ٢٠٢١

Price is approaching our Pivot point of 0.72425, which is in line with 61.8% Fibonacci retracement, 50% fibonacci extension and horizontal graphical overlap. A potential rise from here towards our first resistance level of 0.73089, in line with the -27%, 88.6% fibonacci retracement, 78.6% fibonacci extension and horizontal swing high. Do note that price is above the Ichimoku cloud, in line with our bullish analysis.
Description:

Pivot: 0.72425
Why we like it:
61.8% Fibonacci retracement, 50% fibonacci extension and horizontal graphical overlap

1st Support: 0.72107
Why we like it:
78.6% fibonacci extension and horizontal swing low.

1st Resistance: 0.73089
Why we like it:
-27%, 88.6% fibonacci retracement, 78.6% fibonacci extension and horizontal swing high
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