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FX.co ★ NZD/USD prepare to turn bullish on major support

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Forex Analysis:::2017-10-18T02:27:25

NZD/USD prepare to turn bullish on major support

The price is approaching major support a t0.7146 (Fibonacci retracement, horizontal overlap support) and we expect to see a strong bounce off that level to push the price to at least 0.7345 resistance (Fibonacci retracement, horizontal overlap resistance).

Stochastic (34,3,1) is seeing strong support above 0.9% where we expect to see a corresponding bounce from.

Buy above 0.7146. Stop loss is at 0.7093. Take profit is at 0.7245.

NZD/USD prepare to turn bullish on major support

Analyst InstaForex
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