NZDUSD, H4 bounced from our Pivot. Potential for a rise.

Price has bounced from our Pivot point of 0.71604, which is in line with 23.6% Fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap. A potential rise from here towards our first resistance level of 0.72285, in line with the 61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. It is worth noting that Stochastics is showing bullish pressure where price have previously reacted off the 10% level, in line with our analysis.

Description:

Pivot: 0.71604
Why we like it:
23.6% Fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap

1st Support: 0.71051
Why we like it:
200% fibonacci extension and horizontal swing low support.

1st Resistance: 0.72285
Why we like it:
61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap

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