NZDUSD testing support, potential rise!
NZDUSD is testing our first support at 0.7261 (horizontal overlap support, 61.8% Fibonacci extension, 38.2%, 61.8% Fibonacci retracement). A strong bounce might occur at this level pushing price up to our major resistance at 0.73273 (100% Fibonacci extension, horizontal overlap resistance). A breakout of our intermediate resistance level at 0.7303 (horizontal overlap resistance, 76.4% Fibonacci retracement) might provide the bullish acceleration to our major resistance level.
RSI (21) is testing its ascending support line and a bounce off this level might be a good precursor of a potential rise in price.
Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
RSI (21) is testing its ascending support line and a bounce off this level might be a good precursor of a potential rise in price.
Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
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