NZD/USD approaching support, prepare to buy

We prepare to turn bullish above the 0.7176 support (Fibonacci retracement, horizontal overlap support) for a push up to the 0.7240 resistance (Fibonacci retracement, horizontal overlap resistance).

Stochastic (21,5,3) is seeing strong support at the 10% level where we expect a bounce in the price from.

Buy above 0.7176. Stop loss at 0.7137. Take profit at 0.7240.

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

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