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FX.co ★ NZD/USD: prepare to buy on major support

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Forex Analysis:::2017-07-28T02:21:25

NZD/USD: prepare to buy on major support

Price is approaching major support at 0.7461 (Fibonacci retracement, horizontal pullback support, Fibonacci extension) and we expect to see a nice bounce above this level for price to reach at least 0.7549 resistance (Fibonacci extension, horizontal swing high resistance).

Stochastic (21,5,3) is seeing major support above 5.6% from where we expect a bounce.

Buy above 0.7461. Stop loss at 0.7401. Take profit at 0.7549.

NZD/USD: prepare to buy on major support

Analyst InstaForex
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