#NZDUSD approaching pivot, potential for rise!
Price has broken above our pivot level at 0.69186 which is in line with , 100% Fibonacci extension level & horizontal swing low support . We could potentially see a further rise from here towards 0.70758, which coincides with 50.0% Fibonacci retracement level, 127.2% Fibonacci extension level & horizontal overlap resistance. Finally, we can expect price to take support at 0.68606, which coincides with & horizontal overlap support . This is further supported by how price is likely to bounce off the Stochastic support level .
Pivot:
0.69186
Why we like it:
100% Fibonacci extension level & horizontal swing low support
1st Support:
0.68606
& horizontal overlap support
1st Resistance:
0.70758
50.0% Fibonacci retracement level, 127.2% Fibonacci extension level & horizontal overlap resistance
Trading FX & CFDs carries high risk.
Pivot:
0.69186
Why we like it:
100% Fibonacci extension level & horizontal swing low support
1st Support:
0.68606
& horizontal overlap support
1st Resistance:
0.70758
50.0% Fibonacci retracement level, 127.2% Fibonacci extension level & horizontal overlap resistance
Trading FX & CFDs carries high risk.
Penafian
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