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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.
IC Markets is an online forex broker specialized in providing transparent trading solutions to both retail and institutional investors alike. We provide superior execution technology, lower spreads and unrivaled liquidity.
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