NZD/USD found strong support at 0.7110, after which the pair established a strong uptrend. Fibonacci applied to the corrective wave where NZD/USD found the support shows that it broke above both 161.8% and 261.8% Fibs while 361.8% hasn't been tested yet.
Currently the pair is trading near 261.8% (0.7300), which is acting as support and could be a good entry point to go long to target 361.8% Fibs (0.7365). At the same time, the pair could go slightly lower before continuing moving up. Consider buying NZD/USD with caution while the rate is near 0.7300, targeting 0.7365.
Support: 0.7295
Resistance: 0.7365
From www.instaforex.com http://ift.tt/2ffJJGR
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