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FX.co ★ NZD/USD turns bullish above key support

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Forex Analysis:::2016-11-21T09:43:39

NZD/USD turns bullish above key support

We remain bullish above support at 0.7010 (Fibonacci projection, bullish divergence) looking for a push up to the 0.7112 level at least (Fibonacci retracement, recent swing high resistance).

RSI (34) is also seeing a bounce from support at 36%, and bullish divergence vs price signals that a bullish reversal is approaching.

Buy above 0.7010. Set stop loss at 0.6950 and take profit at 0.7112.

NZD/USD turns bullish above key support

Analyst InstaForex
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