#NZDUSD is at pivot, potential for bounce!
Price is reacting on pivot level at 0.70115 which is in line with 38.2% Fibonacci retracement level, 61.8% Fibonacci extension level and 200MA. Price could potentially swing towards resistance at 0.70850, in-line with 50% Fibonacci retracement, 61.8% Fibonacci extension level and 50MA. Stochastic is also at support where previous bounces occurred.
Alternatively, price could potentially drop to support level at 0.69450, in-line with 61.8% Fibonacci retracement level and 78.6% Fibonacci extension level.
Pivot:
0.70115
Why we like it:
38.2% Fibonacci retracement level, 61.8% Fibonacci extension level and 200MA
1st Support:
0.69450
61.8% Fibonacci retracement level and 78.6% Fibonacci extension level
1st Resistance:
0.70850
50% Fibonacci retracement, 61.8% Fibonacci extension level and 50 MA
Trading FX & CFDs carries high risk.
Alternatively, price could potentially drop to support level at 0.69450, in-line with 61.8% Fibonacci retracement level and 78.6% Fibonacci extension level.
Pivot:
0.70115
Why we like it:
38.2% Fibonacci retracement level, 61.8% Fibonacci extension level and 200MA
1st Support:
0.69450
61.8% Fibonacci retracement level and 78.6% Fibonacci extension level
1st Resistance:
0.70850
50% Fibonacci retracement, 61.8% Fibonacci extension level and 50 MA
Trading FX & CFDs carries high risk.
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