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ICmarkets
Jan 3, 2019 3:25 AM

NZDUSD Approaching Support, Potential Bounce Long

New Zealand Dollar/U.S. DollarFXCM

Description

NZDUSD is approaching its support at 0.6575 61.8% Fibonacci extension, 76.4% Fibonacci retracement, Horizontal pullback support) where it could potentially bounce to its resistance at 0.6727 (38.2% Fibonacci retracement, horizontal overlap resistance).
Stochastic (34, 5, 3) is approaching its support at 5.4% where a corresponding bounce could occur.
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