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FX.co ★ NZD/USD Testing Support, Prepare For Bounce

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Forex Analysis:::2018-09-04T05:29:23

NZD/USD Testing Support, Prepare For Bounce

NZD/USD is approaching its support at 0.6590 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal overlap support) where the price is expected to bounce up to its resistance at 0.6637 (38.2% Fibonacci retracement, horizontal pullback resistance).

Stochastic (89, 5, 3) is testing its support at 2.5% where a corresponding bounce is expected.

NZD/USD is testing its support where we expect to see a bounce.

Buy above 0.6590. Stop loss at 0.6570. Take profit at 0.6637.

NZD/USD Testing Support, Prepare For Bounce

Analyst InstaForex
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