FX.co ★ NZD/USD approaching major support, prepare to buy

The price is approaching major support at 0.7128 (Fibonacci extension, horizontal swing low support) and we expect a bounce above this level for an intermediate correction to 0.7174 resistance (Fibonacci retracement, horizontal overlap resistance).

Stochastic (34,3,1) is seeing strong support above 2.4% where we expect a bounce from.

Buy above 0.7128. Stop loss is at 0.7091. Take profit is at 0.7174.