NZD/USD Approaching Support, Potential Bounce!

Posted On 08 Feb 2019

The NZD/USD pair is approaching our first support level at 0.6707 (horizontal swing low support, 61.8% Fibonacci retracement, 61.8% Fibonacci extension, Elliot wave structure) where we expect a strong bounce above this level to our major resistance level at 0.6821 (horizontal pullback resistance, 50% Fibonacci retracement).

Stochastic (55,5,3) is also approaching support.

NZD/USD is nearing our first support where a bounce above this level is anticipated.

Buy above 0.6707. Stop loss at 0.6663. Take profit at 0.6821

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Source:: NZD/USD Approaching Support, Potential Bounce!

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