NZDUSD: Are you prepared for the bounce?

NZDUSD: Are you prepared for the bounce?

NZDUSD is approaching its support where we expect to see a bounce.

  • Buy above 0.6545
  • Stop loss at 0.6501
  • Take profit at 0.6603

Analytics_Square_03.10_EN_1

The dollar is often seen as a safe bet, but a resurgent Kiwi could offer opportunities. Sign up for a free account and start trading today.

Reason for the trading strategy:

NZDUSD is approaching its support at 0.6545(100% & 61.8% Fibonacci extension, 78.6% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 0.6603 (38.2% Fibonacci retracement, horizontal swing high resistance).

Stochastic (89, 5, 3) is approaching its support at 3.7% where a corresponding bounce could occur.

Disclaimer: The publication of Analytics is a marketing communication and does not constitute investment advice or research. Its content represents the general views of our experts and does not consider individual readers’ personal circumstances, investment experience, or current financial situation. The Analytics is not prepared in accordance with legal requirements promoting independent investment research, and Exness is not subject to any prohibition on dealing before the release of the Analytics. Readers should consider the possibility that they may incur losses. Therefore, Exness is not liable for any losses incurred due to the use of its Analytics. #forex #analysis