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

Price is approaching major support at 0.7238 (multiple Fibonacci retracement, horizontal pullback support, Fibonacci extension) where we expect a strong bounce from to push price all the way up to 0.7335 resistance (Fibonacci extension, horizontal swing high resistance) once again.

Stochastic (34,3,1) is seeing strong support above 3.64% and we expect a bounce above that level once it reaches there.

Buy above 0.7238. Stop loss at 0.7201. Take profit at 0.7335.