NZD USD gets some momentum – Analysis - 04/02/2014

The pair shows clear positive trading today to form double bottom formation signals that will be activated by breaching above 0.8135 level, while stochastic offers clear positive signals that encourage us to expect more positive bias for today.

Therefore, the bullish trend will be expected on the intraday basis, the main target is testing 0.8205 level, as breaching above this level will extend the bullish wave towards 0.8385, taking into consideration that breaking below 0.8090 then 0.8060 will stop the bullish bias and pushes the price towards 0.7920 levels mainly.

Expected trading range for today is between: 0.8060 support and 0.8250 resistance.

Expected trend for today: Bullish