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27.07.201811:13 Forex Analysis & Reviews: NZD/USD Approaching Support, Prepare For A Bounce!

Long-term review

NZD/USD is approaching support at 0.6770 (61.8% Fibonacci extension, 61.8% & 50% Fibonacci retracement, horizotnal swing low support) where we expect to see a bounce up to its resistance at 0.6823 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance). Stochastic (55, 5, 3) is testing its support at 3% where a corresponding bounce could occur.

NZD/USD is approaching its support where we expect to see a bounce.

Buy entry 0.6770. Stop loss 0.6741. Take profit at 0.6823.

Exchange Rates 27.07.2018 analysis

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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Dean Leo,
Analytical expert
InstaForex Group © 2007-2021
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