NZDUSD, H4 testing our Pivot. Potential for a bullish breakout

1. März 2021

Price is testing our Pivot point of 0.72839, which is in line with 61.8%, 23.8% Fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. A set up for potential bullish breakout from here towards our first resistance level of 0.73514, in line with the fibonacci confluence. Please note that price is also testing Ichimoku cloud for bullish breakout

Description:

Pivot: 0.74056
Why we like it:
61.8%, 23.8% Fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap

1st Support: 0.72224
Why we like it:
161,8%, 78.6% fibonacci retracement and horizontal graphical overlap.

1st Resistance: 0.73514
Why we like it:
38.2%, 50% fibonacci retracement and 127% fibonacci extension

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