NZDUSD testing major support, upcoming potential bounce!
NZDUSD is testing major support at 0.7185 (Fibonacci retracement, horizontal overlap support, Elliott wave structure) and a strong bounce could occur at this level to drive price up to at least 0.7276 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (34,5,3) is seeing major support above 5.4% where a corresponding bounce could occur.
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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results