NZD/USD approaching support, potential bounce!

NZDUSD is approaching our first support at 0.6672 (horizontal swing low support, 61.8% Fibonacci extension . Descending channel support) where a strong bounce to our major resistance at 0.6741 (horizontal overlap resistance, 61.8% Fibonacci retracement ) might occur. Stochastic is approaching support as well.

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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The material has been provided by InstaForex Company - www.instaforex.com

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