FX.co ★ NZD/USD bounced perfectly, remain bullish

Price bounced perfectly above our buying level from Friday and is making good progress towards our profit target. We remain bullish above 0.7012 support (Fibonacci retracement, horizontal pullback support) for a further push up to 0.7137 (Fibonacci retracement, horizontal resistance, bullish divergence potential).

RSI (34) is also seeing a bounce from support at 36% and bullish divergence vs price signalling a bullish reversal is in progress.

Buy above 0.7012. Stop loss at 0.6948. Take profit at 0.7137.