EURNZD testing ascending trendline support! Bounce incoming!

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EURNZD holding above ascending trendline support. With technical indicators showing room for further bullish momentum, we can expect price to push higher above 1st support at 1.68133 towards 1st resistance at 1.69044.

Trading Recommendation

Entry: 1.68133

Reason for Entry:

23.6% Fibonacci retracement, Ascending trendline support

Take Profit: 1.69044

Reason for Take Profit:

-27.2% Fibonacci retracement, graphical overlap resistance

Stop Loss: 1.67693

Reason for Stop Loss:

50% Fibonacci retracement

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

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