The NZD/USD chart shows a bullish momentum with the price above a major ascending trend line. There is potential for a bullish bounce off the 1st support at 0.625, which coincides with the 50% Fibonacci Retracement. The 2nd support at 0.611 is an overlap support with the 78.60% Fibonacci Retracement. On the upside, the 1st resistance at 0.630 is an overlap resistance, and further upward movement could face the 2nd resistance at 0.641, a swing high resistance.
The material has been provided by InstaForex Company – www.instaforex.com
The NZD/USD chart shows a bullish momentum with the price above a major ascending trend line. There is potential for a bullish bounce off the 1st support at 0.625, which coincides with the 50% Fibonacci Retracement. The 2nd support at 0.611 is an overlap support with the 78.60% Fibonacci Retracement. On the upside, the 1st resistance at 0.630 is an overlap resistance, and further upward movement could face the 2nd resistance at 0.641, a swing high resistance.
The material has been provided by InstaForex Company – www.instaforex.com
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