NZD/USD approaching support, potential bounce!

NZDUSD is approaching our first support at 0.6744 (long term ascending support line, horizontal swing low support, 50% Fibonacci retracement , 100% Fibonacci extension ) where a strong bounce might occur above this level to our major resistance at 0.6866 (horizontal overlap resistance, 61.8% Fibonacci retracement ). Stochastic is also approaching support. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.

Analysis are provided by InstaForex