TradingView
Tickmill
Feb 9, 2018 4:42 AM

NZDUSD testing major support, upcoming potential bounce! Long

New Zealand Dollar/U.S. DollarFXCM

Description


NZDUSD is testing major support at 0.7185 (Fibonacci retracement, horizontal overlap support, Elliott wave structure) and a strong bounce could occur at this level to drive price up to at least 0.7276 resistance (Fibonacci retracement, horizontal pullback resistance).

Stochastic (34,5,3) is seeing major support above 5.4% where a corresponding bounce could occur.

Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
More