NZDUSD testing support, potential bounce!
NZDUSD is testing our first support at 0.7244 (horizontal overlap support, 61.8% Fibonacci retracement). A strong bounce could occur above this level pushing price up to our major resistance at 0.7375 (horizontal swing high resistance, 61.8% Fibonacci extension).
Stochastic (55,5,3) is also approaching our major support and a bounce off this level might be a good precursor for a potential rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (55,5,3) is also approaching our major support and a bounce off this level might be a good precursor for a potential rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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