NZDUSD is approaching support, potential bounce!
NZDUSD is approaching our first support at 0.7347 (horizontal overlap support, 23.6% Fibonacci retracement, 61.8% Fibonacci extension) which coincides with our short term ascending support line. A strong bounce might occur above this level, pushing price up to our major resistance at 0.7395 (horizontal swing high resistance).
RSI (89) is also approaching our major ascending support line and a bounce off this level might be a good precursor for a potential rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (89) is also approaching our major ascending support line and a bounce off this level might be a good precursor for a potential rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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