NZDUSD, H4 is reversing from our Pivot. Potential for a drop.
Price is reversing from our Pivot point of 0.71563, which is in line with 61.8% Fibonacci retracement. A potential drop from here towards our first support level of 0.70909, in line with the -61.8% fibonacci retracement, 61.8% and 161.8% fibonacci extension.
Description:
Pivot: 0.71563
Why we like it:
61.8% Fibonacci retracement
1st Support: 0.70909
Why we like it:
-61.8% fibonacci retracement, 61.8% and 161.8% fibonacci extension.
1st Resistance: 0.72052
Why we like it:
78.6% fibonacci retracement, 161.8% fibonacci extension.
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