FX.co ★ NZDUSD holding above ascending trendline support! Rise incoming!

Price holding above long term ascending trendline support and rejecting below short term descending trendline resistance. A short term push up above 1st support at 0.71871 towards 1st resistance at 0.72409 and even 2nd resistance at 0.73073 is possible. Price also holding above moving average support.

Trading Recommendation

Entry: 0.71871

Reason for Entry:

50% Fibonacci retracement, ascending trendline support

Take Profit: 0.72409

Reason for Take Profit:

-27.2% Fibonacci retracement, Graphical swing high

Stop Loss: 0.71510

Reason for Stop Loss:

78.6% Fibonacci retracement