NZD/USD approaching support, potential bounce!


Price is approaching support where it is expected to bounce to its resistance. We are expected some NZD strength later today due to risk-on sentiment back in the market..

Entry : 0.6603

Why it's good : 38.2% Fibonacci retracement, 100% Fibonacci extension, horizontal pullback resistance

Stop Loss : 0.6561

Why it's good : 61.8% Fibonacci retracement, horizontal pullback support

Take Profit : 0.6667

Why it's good : Horizontal swing low support, 38.2% Fibonacci retracement


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