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NZDUSD is bouncing off support, watch for potential rise!
NZDUSD is bouncing off its support level at 0.7271 (horizontal overlap support, 38.2% Fibonacci retracement ) which coincides with the short term ascending support line. A strong reaction could occur at this level, pushing price up to our next major resistance at 0.7309 (50% Fibonacci retracement , horizontal overlap resistance).
RSI (89) is also boucning off its ascending support line at 52% and a corresponding rise in price might occur at this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (89) is also boucning off its ascending support line at 52% and a corresponding rise in price might occur at 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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