FX.co ★ NZD/USD approaching major support where we expect to see a bounce!

Price is approaching a key support at 0.6584 where we expect to see a bounce up to its resistance at 0.6671. Stochastic is also at support where a corresponding bounce is expected.

Entry : 0.6584

Why it's good : horizontal swing low support, long term 76.4% fibonacci retracement, long & short term 100% fibonacci extension

Stop Loss : 0.6506

Why it's good : horizontal swing high resistance

Take Profit : 0.6671

Why it's good : horizontal pullback resistance, 23.6% fibonacci retracement