Looking for a bounce at support on the NZD/USD?

Simon Cotterill SC Trading

Today we will take a look at the NZDUSD, we note the fall from 0.6785 in July to 0.6269 on the 3rd September, we have retraced with the 38.2% fib holding firm and the 4 hour 200 moving average also holding the move back up.

We now see price retesting support of around 0.6304 area, we will now look to see if a double bottom will start to form and we can push back up to the 0.6391 area.

Author

Simon Cotterill

SC Trading

As a technical analyst with an eye on the news.

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