NZDUSD approaching support, potential bounce!

NZDUSD is approaching our first support at 0.7190 (horizontal swing low support, 100% Fibonacci extension, 38.2% Fibonacci retracement). A strong bounce might occur above this level, pushing price up to our major resistance at 0.7245 (horizontal overlap resistance, 23.6% Fibonacci retracement).

Stochastic (55, 5, 3) is also approaching our major support and a bounce off this level might be a good precursor for a potential rise in price.

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