NZDUSD, H4 is testing our Pivot. Potential for a drop.

2021年5月5日

Price is testing our Pivot point of 0.71775, which is in line with 61.8% Fibonacci retracement, 100% fibonacci extension, descending trendline resistance and horizontal graphical overlap. A potential drop from here towards our first support level of 0.71281, in line with the 61.8% fibonacci extension and horizontal swing low.
Description:

Pivot: 0.71775
Why we like it:
61.8% Fibonacci retracement, 100% fibonacci extension, descending trendline resistance and horizontal graphical overlap

1st Support: 0.71281
Why we like it:
61.8% fibonacci extension and horizontal swing low support.

1st Resistance: 0.72158
Why we like it:
161.8% fibonacci extension, moving average and descending trendline resistance.

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