NZD/USD Approaching Support, Prepare For Bounce

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NZD/USD is approaching its support at 0.6860 (61.8% Fibonacci extension, 23.6% Fibonacci retracement, horizontal pullback support) where it could potentially bounce to its resistance at 0.6936 (horizontal swing high resistance).

Stochastic (55, 5, 3) is nearing its support at 1.65% where a corresponding bounce could occur.

NZD/USD is approaching its support where we expect to see a bounce.

Buy above 0.6860. Stop loss at 0.6796. Take profit at 0.6936.

The material has been provided by InstaForex Company – www.instaforex.com

Source:: NZD/USD Approaching Support, Prepare For Bounce

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