NZD/USD bouncing up nicely as expected, prepare to sell

The price has bounced up nicely as expected from our buying area. We remain bullish looking to buy above major support at 0.7202 (Fibonacci extension, horizontal swing low support) for a further push up to at least 0.7331 resistance (Fibonacci retracement, horizontal swing high resistance).

Stochastic (34,5,3) is seeing major support above 3.3% where we're seeing a corresponding bounce from along with good upside potential.

Sell below 0.7202. Stop loss is at 0.7153. Take profit is at 0.7331.

analytics59a3778a6ded5.png

The material has been provided by InstaForex Company - www.instaforex.com