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

The price is approaching major support at 0.7244 (Fibonacci retracement, horizontal overlap support) and we expect a bounce above this level to at least 0.7299 resistance (Fibonacci retracement, horizontal pullback resistance).

Stochastic (21,5,3) is approaching strong support above 3% where we expect a bounce to occur.

Buy above 0.7244. Stop loss is at 0.7213. Take profit is at 0.7299.