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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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NZD/USD approaching support, potential bounce!

NZDUSD is approaching our first support at 0.6720 (100% Fibonacci extension , 61.8% Fibonacci retracement , Horizontal swing low support) where a strong bounce might occur above this level to our major resistance at 0.6829 (61.8% Fibonacci extension , 50% Fibonacci retracement , Horizontal overlap resistance). Stochastic is also approaching support where we might see a corresponding bounce in price. Trading CFDs on margin carries high risk.

Losses can exceed the initial investment so please ensure you fully understand the risks.

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