Price is seeing major support above 0.7578 (Fibonacci retracement, horizontal overlap support) and we expect to see a bounce above this level for a rise all the way up to 0.7631 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (21,5,3) I seeing strong support above 8.3% where we expect it to bounce correspondingly with price.
Correlation analysis: AUD/USD and NZD/USD are both expecting bounces.
Buy above 0.7578. Stop loss at 0.7558. Take profit at 0.7631.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Price is seeing major support above 0.7578 (Fibonacci retracement, horizontal overlap support) and we expect to see a bounce above this level for a rise all the way up to 0.7631 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (21,5,3) I seeing strong support above 8.3% where we expect it to bounce correspondingly with price.
Correlation analysis: AUD/USD and NZD/USD are both expecting bounces.
Buy above 0.7578. Stop loss at 0.7558. Take profit at 0.7631.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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