#NZDUSD approaching pivot, potential for rise! | 18th Nov
Price has broken above our pivot level at 0.70218 which is in line with , 50.0% Fibonacci retracement level & horizontal overlap support . We could potentially see a further rise from here towards 0.70942, which coincides with 100% Fibonacci extension level, 76.4% Fibonacci retracement level & horizontal overlap resistance. Finally, we can expect price to take support at 0.69804, which coincides with 61.8% Fibonacci retracement level, 100% Fibonacci extension level & horizontal overlap support . This is further supported by how price is likely to bounce off the RSI support level .
Pivot:
0.70218
Why we like it:
, 50.0% Fibonacci retracement level & horizontal overlap support
1st Support:
0.69804
61.8% Fibonacci retracement level, 100% Fibonacci extension level & horizontal overlap support
1st Resistance:
0.70942
100% Fibonacci extension level, 76.4% Fibonacci retracement level & horizontal overlap resistance
Trading FX & CFDs carries high risk.
Pivot:
0.70218
Why we like it:
, 50.0% Fibonacci retracement level & horizontal overlap support
1st Support:
0.69804
61.8% Fibonacci retracement level, 100% Fibonacci extension level & horizontal overlap support
1st Resistance:
0.70942
100% Fibonacci extension level, 76.4% Fibonacci retracement level & horizontal overlap resistance
Trading FX & CFDs carries high risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.