NZDUSD dropping nicely towards our target, prepare for a bounce

NZDUSD has dropped nicely towards our forecasted support target and we’re preparing for a potential bounce above this level (Fibonacci extension, long term 50% Fibonacci retracement, horizontal swing low support) and this could drive price all the way up to 0.7273 resistance (Fibonacci retracement, horizontal overlap resistance).

Stochastic (234,5,3) is also seeing strong support above 3.9% where a corresponding bounce could occur.

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