NZDUSD has bounced nicely, potential for another bounce!
NZDUSD has bounced up really nicely from our major support and is now back down to test it again at 0.7306 (50% Fibonacci retracement, 61.8% Fibonacci retracement, Fibonacci extension, horizontal overlap support). Another bounce could occur above this level to push price up to 0.7374 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,5,3) has bounced nicely off our 5.4% major support and has good upside potential.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (34,5,3) has bounced nicely off our 5.4% major support and has good upside potential.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results