FX.co - NZD/USD testing an intermediate support, could we see a bounce?

2019-05-16T08:45:08

Relevance until2019-05-17

Description :

Price is currently testing an intermediate support at 0.6558. If broken, it will confirm a further move down to its next support at 0.6520.

Entry : 0.6585

Why it's good : horizontal pullback resistance, 100% Fibonacci extension

Stop Loss : 0.6629

Why it's good : 61.8% Fibonacci retracement

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Dean Leo

FX.co ★ NZD/USD testing an intermediate support, could we see a bounce?