NZDUSD, H4 is bouncing our Pivot. Potential for a rise.

Price is bouncing from our Pivot point of 0.72141, which is in line with 78.6% Fibonacci retracement, 61.8% fibonacci extension and moving average support. A potential rise from here towards our first resistance level of 0.73594, in line with the 78.6% and 127% fibonacci retracement. Do note that price is trending above the moving average in line with our bullish analysis.

Description:

Pivot: 0.72141
Why we like it:
78.6% Fibonacci retracement, 61.8% fibonacci extension and moving average support

1st Support: 0.71210
Why we like it:
127% fibonacci retracement and horizontal swing low support.

1st Resistance: 0.73594
Why we like it:
78.6% and 127% fibonacci retracement

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