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NZDUSD testing 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
4
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trendanalysis harmonicpatterns chartpattern nzdusd nzd usd nzdusdlong nzdusdshort forex forextrading forexsignals
NZDUSD is testing our first support at 0.7244 (horizontal overlap support, 61.8% Fibonacci retracement). A strong bounce could occur above this level pushing price up to our major resistance at 0.7375 (horizontal swing high resistance, 61.8% Fibonacci extension).

Stochastic (55,5,3) is also approaching our major support and a bounce off this level might be a good precursor for a potential rise in price.

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