Technical analysis of NZD/USD for November 25, 2016

The price is back to our buying level, which is major support at 0.6990 (Fibonacci projection, Fibonacci retracement, recent swing low support) where we expect a bounce to at least 0.7090 (recent swing high resistance, Fibonacci retracement).

The RSI (34) is also seeing a bounce from support at 36% and bullish divergence vs the price signalling a bullish reversal is approaching.

Buy above 0.6990. Stop loss at 0.6949. Take profit at 0.7090.

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The material has been provided by InstaForex Company – www.instaforex.com

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