NZD/USD approaching support, potential bounce!

NZDUSD is approaching our first support at 0.67223 (horizontal swing low support, 61.8% Fibonacci retracement , 61.8% Fibonacci extension ) where a strong bounce might occur to our first resistance at 0.67685 (horizontal swing high resistance, 23.6% Fibonacci retracement . Stochastic is also seeing a bullish divergence and approaching support where we might see a corresponding bounce in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.

analytics5caff7f771a61.png

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

Comments