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

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Forex Analysis:::2019-01-29T02:39:02

NZD/USD Approaching Support, Prepare For Bounce

The NZD/USD pair is approaching its support at 0.6808 (100% Fibonacci extension, 50% & 38.2% Fibonacci retracement, horizontal pullback support) where it could potentially bounce to its resistance at 0.6846 (61.8% Fibonacci retracement, horizontal swing high resistance).

Stochastic (89, 5, 3) is nearing its support at 4.9% where a corresponding bounce could occur.

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

Buy above 0.6808. Stop loss at 0.6787. Take profit at 0.6846.

NZD/USD Approaching Support, Prepare For Bounce

Analyst InstaForex
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