NZDUSD approaching support, potential bounce!
Price is approaching our first support at 0.6884 (horizontal swing low support, 38.2% Fibonacci retracement) and a strong bounce might occur above this level pushing price up to our major resistance at 0.6960 (horizontal overlap resistance, 61.8% Fibonacci extension, 61.8% Fibonacci retracement). Ichimoku cloud is also showing signs of bullish pressure in line with our bullish bias.
RSI (55) is also seeing a bullish exit and approaching our support and a bounce above this level might see a corresponding 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 (55) is also seeing a bullish exit and approaching our support and a bounce above this level might see a corresponding 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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