NZD/USD bouncing up nicely, remain bullish for a further push up

Price has bounced up perfectly from our buying area and has started to retrace. We prepare to buy once again on major support at 0.7225 (Fibonacci retracement, Fibonacci extension, horizontal swing low support) for a bounce up once again to 0.7291 resistance (Fibonacci retracement, horizontal overlap resistance).

Stochastic (34,3,1) is seeing strong support above 2% where we expect a similar bounce from.

Buy above 0.7335. Stop loss at 0.7201. Take profit at 0.7291.


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