NZDUSD watch for potential rise as it approaches support!
Price is approaching our first support at 0.7248 (horizontal pullback support, 61.8% Fibonacci extension, 61.8% Fibonacci retracement) and a strong bounce might occur above this level, pushing price up to our major resistance at 0.7294 (horizontal swing high resistance, 61.8% Fibonacci retracement).
Stochastic (55,5,3) is also approaching our major support which might be a good precursor of a potential rise in price should it bounce off this level.
Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
Stochastic (55,5,3) is also approaching our major support which might be a good precursor of a potential rise in price should it bounce off this level.
Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
Trade closed: target reached
Wohoooo! target reached!! did you manage to ride this wave up?
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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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.