NZD/USD: Daily
Watch out, Kiwi bears! NZD/USD might be in for a strong bounce sooner or later, as price is currently approaching the rising channel support on its daily forex chart. This is somewhere around the .8050 to .8100 psychological levels, which might keep further losses in check. At the same time, stochastic is crawling out of the oversold area, indicating that Kiwi bulls might charge anytime now. If that happens, price might bounce to the nearby area of interest around .8350 or eventually make its way back to the channel resistance above .8800. Make sure you set a wide stop below the channel support if you’re thinking of going long!
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