NZDUSD bounced from support, potential for a further rise

2021年4月21日

NZDUSD currently reacting above key Fibonacci retracement level and our pivot at 0.71626. With stochastic testing support where price bounced in the past, a short term push up towards 78.6% Fibonacci retracement and 1st resistance at 0.72142 could be expected. Otherwise, failure to hold above our Pivot could see price swing the other way towards recent swing low and 1st support at 0.71233

Pivot: 0.71626
Why we like it:
61.8% Fibonacci retracement

1st Support: 0.71233
Why we like it:
Horizontal swing low support

1st Resistance: 0.72142
Why we like it:
78.6% Fibonacci retracement

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