NZDUSD bounced nicely off its support, potential to rise further

16 באפר׳ 2018

NZDUSD bounced nicely off its support at 0.7347 (61.8% Fibonacci extension, 23.6% Fibonacci retracement, horizontal overlap support) where it could potentially rise further to its resistance at 0.7394 (horizontal swing high resistance). We have also identified another support at 0.7319 (100% Fibonacci extension, 50% Fibonacci retracement, 38.2% Fibonacci retracement, horizontal overlap support).
Stochastic (34, 5, 3) bounced off its support at 4.2% where we expect to see a corresponding rise.