NZDUSD testing major support, prepare for a potential bounce!
NZDUSD is testing our major support at 0.7336 really nicely (multiple Fibonacci retracement, horizontal overlap support) and a strong bounce could occur at this level to push price up towards 0.7428 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (34,5,3) is seeing strong support above 8.0% where a corresponding bounce could occur similar to what could happen with price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (34,5,3) is seeing strong support above 8.0% where a corresponding bounce could occur similar to what could happen with price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results