NZD/USD approaching support, potential bounce!

analytics5d26c9b0db8ba.png

Price is approaching its resistance at 0.6661 where it could potentially reverse to its support at 0.6616.

Entry: 0.6661

Why it's good :61.8% Fibonacci retracement, 100% Fibonacci extension, horizontal overlap resistance

Stop Loss : 0.6689

Why it's good : 78.6% Fibonacci retracement

Take Profit : 0.6616

Why it's good: 50% Fibonacci retracement, horizontal overlap support

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