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Mar 6, 2019 1:39 AM

NZDUSD approaching support, potential bounce! Long

New Zealand Dollar/U.S. DollarFXCM

Description

NZDUSD is approaching our first support at 0.6763 (horizontal swing low support, 61.8%, Fibonacci extension, 76.4% Fibonacci retracement) where a strong bounce might occur above this level to our major resistance at 0.6832 (horizontal swing high resistance, 50% Fibonacci retracement).
Stochastic (34,5,3) is also approaching our support and seeing a bullish divergence where we might see a bounce in price.
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