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New Zealand Dollar / U.S. Dollar
Long

NZDUSD bounced nicely off its support, potential to rise further

By ICmarkets
Broker

NZDUSD bounced nicely off its support at 0.7347 (61.8% Fibonacci extension, 23.6% Fibonacci retracement, horizontal overlap support) where it could potentially rise further to its resistance at 0.7394 (horizontal swing high resistance). We have also identified another support at 0.7319 (100% Fibonacci extension, 50% Fibonacci retracement, 38.2% Fibonacci retracement, horizontal overlap support).
Stochastic (34, 5, 3) bounced off its support at 4.2% where we expect to see a corresponding rise.
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ICmarkets
Broker
IC Markets is an online forex broker specialized in providing transparent trading solutions to both retail and institutional investors alike. We provide superior execution technology, lower spreads and unrivaled liquidity.
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