#NZDUSD approaching pivot, potentail for a reversal!
Price is approaching pivot level of 0.69818 where we have 38.2% Fibonacci retracement level & horizontal overlap resistance lining up. A reversal from this level might see price take support at 0.6807, which is in line with 78.6% Fibonacci extension level & horizontal swing low support. Finally, price is unlikely to surpass our strong resistance at 0.70855, which coincides with 78.6% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal overlap resistance . This is further supported by how price is holding below the EMA
Pivot:
0.69818
Why we like it:
38.2% Fibonacci retracement level & horizontal overlap resistance
1st Support:
0.68070
Why we like it:
78.6% Fibonacci extension level & horizontal swing low support
1st Resistance:
0.70855
Why we like it:
78.6% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal overlap resistance
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