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

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Forex Analysis:::2019-02-21T04:53:12

NZD/USD Approaching Support, Prepare For Bounce

NZD/USD is approaching its support at 0.6808 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 0.6850 (horizontal pullback resistance).

Stochastic (55, 5, 3) is nearing its support at 0.96% 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 0.6782. Take profit at 0.6850.

NZD/USD Approaching Support, Prepare For Bounce

Analyst InstaForex
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