NZDUSD approaching channel support once again, potential bounce
NZDUSD is approaching major support once again at 0.7239 (channel support, 50% Fibonacci retracement, horizontal swing low support) and a bounce could occur at this level pushing price up to at least 0.7328 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (21,5,3) is seeing major support above 1.9% where further bullish action could be expected.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (21,5,3) is seeing major support above 1.9% where further bullish action could be expected.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results