NZDUSD approaching major support, potential bounce!

NZDUSD is approaching major support at 0.7250 (horizontal swing low support, 61.8% Fibonacci retracement ) which coincides with our long term ascending support line. A strong reaction could occur at this level, pushing price up to our next m major resistance at 0.7356 (61.8% Fibonacci retracement , 61.8%, 100% Fibonacci extension , horizontal swing high resistance).

Stochastic (55,5,3) is also approaching our major support at 3% and we might see a corresponding rise in price should it bounce off this level.

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