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NZDUSD dropping nicely towards our target, prepare for a bounce

Long
New Zealand Dollar / U.S. Dollar (FX:NZDUSD)  
Tickmill Broker  
FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns NZDUSD NZD USD nzdusdshort nzdusdlong nzdusdtrade nzdusddaily nzdusdsell nzdusdbreakout
110
3
trendanalysis harmonicpatterns chartpattern nzdusd nzd usd nzdusdshort nzdusdlong nzdusdtrade nzdusddaily nzdusdsell nzdusdbreakout
NZDUSD has dropped nicely towards our forecasted support target and we’re preparing for a potential bounce above this level (Fibonacci extension, long term 50% Fibonacci retracement, horizontal swing low support) and this could drive price all the way up to 0.7273 resistance (Fibonacci retracement, horizontal overlap resistance).

Stochastic (234,5,3) is also seeing strong support above 3.9% where a corresponding bounce could occur.

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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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