Long term support reached. High chances of rebound. Long.

2018年7月11日

NZDUSD has rebounded near the May 30th, 2016 0.66735 support. This level is a very long term support on 1W and very likely candidate to initiate a bullish reversal. However, in order for this to happen, 0.68641 has to get crossed as the price is still trading inside a 1D Channel Down (RSI = 43.333, B/BP = -0.0012, Highs/Lows = 0). TP = 0.71776 and 0.73402 in extension.