NZDUSD approaching major support, potential bounce!
NZDUSD is approaching major support at 0.7250 (horizontal swing low support, 61.8% Fibonacci retracement ) which coincides with our long term ascending support line. A strong reaction could occur at this level, pushing price up to our next m major resistance at 0.7356 (61.8% Fibonacci retracement , 61.8%, 100% Fibonacci extension , horizontal swing high resistance).
Stochastic (55,5,3) is also approaching our major support at 3% and we might see a corresponding rise in price should it bounce off this level.
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 at 3% and we might see a corresponding rise in price should it bounce off this level.
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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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.