Tickmill

NZDUSD approaching support, potential bounce!

Long
FX:NZDUSD   Dollaro neozelandese / Dollaro
NZDUSD is approaching our first support at 0.6619 (horizontal overlap support, 23.6 % Fibonacci retracement, 61.8% Fibonacci extension, breakout level) where a strong bounce might occur above this level pushing price up to our major resistance at 0.6716 (horizontal overlap resistance, 100% Fibonacci extension, 38.2%, 23.6%, 61.8% Fibonacci retracement).
RSI (89) is also seeing a bullish exit and we might see a corresponding rise in price.
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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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