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NZDUSD is approaching support, potential bounce!

Long
New Zealand Dollar / U.S. Dollar (FX:NZDUSD)  
easyMarkets Broker  
FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns NZDUSD NZD USD nzdusdlong nzdusdshort Forex forextrading forexsignals Bitcoin (Cryptocurrency)
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trendanalysis harmonicpatterns chartpattern nzdusd nzd usd nzdusdlong nzdusdshort forex forextrading forexsignals bitcoin
NZDUSD is approaching our first support at 0.7347 (horizontal overlap support, 23.6% Fibonacci retracement, 61.8% Fibonacci extension) which coincides with our short term ascending support line. A strong bounce might occur above this level, pushing price up to our major resistance at 0.7395 (horizontal swing high resistance).

RSI (89) is also approaching our major ascending support line and a bounce off this level might be a good precursor for a potential rise in price.

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