NZDUSD testing major support, upcoming potential bounce!

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Nyzeeländsk dollar/USA-dollar (FX:NZDUSD)

FX:NZDUSD Nyzeeländsk dollar/USA-dollar

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NZDUSD is testing major support at 0.7185 (Fibonacci retracement, horizontal overlap support, Elliott wave structure) and a strong bounce could occur at this level to drive price up to at least 0.7276 resistance (Fibonacci retracement, horizontal pullback resistance).

Stochastic (34,5,3) is seeing major support above 5.4% 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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