NZD/USD remain bullish above key support

By | November 17, 2016

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Price bounced above our stop loss level yesterday. We remain bullish above major support at 0.7068 (Fibonacci projection, horizontal support) where we expect a bounce from to at least the next resistance level at 0.7142 (Fibonacci retracement, horizontal resistance).

RSI (34) has bounced off major support at 34% signalling a recovery is in progress.

Buy above 0.7068. Stop loss at 0.7030. Take profit at 0.7142.

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The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex

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