NZDUSD approaching support, potential bounce!
NZDUSD is approaching our first support at 0.7190 (horizontal swing low support, 100% Fibonacci extension, 38.2% Fibonacci retracement). A strong bounce might occur above this level, pushing price up to our major resistance at 0.7245 (horizontal overlap resistance, 23.6% Fibonacci retracement).
Stochastic (55, 5, 3) is also approaching our major support and a bounce off this level might be a good precursor for a potential rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (55, 5, 3) is also approaching our major support and a bounce off this level might be a good precursor for a potential rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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