NZDUSD breaches the first resistance – Analysis - 28-11-2016

The NZDUSD pair showed clear breach to 0.7049 level and settles above it, which stops the recently suggested correctional bearish scenario and leads the price for recovery attempts on the intraday basis, targeting testing 0.7150 level mainly.

Therefore, we suggest witnessing more rise in the upcoming sessions, being aware that it is important to monitor the price behavior when reaching the targeted level, as breaching it represents the key to confirm stopping the bearish correction followed by regaining the main bullish trend that its next main target located at 0.7483, while breaking 0.7048 level will put the price under the negative pressure again, to target 0.6915 as a next correctional station.

Expected trading range for today is between 0.7000 support and 0.7200

Expected trend for today: Bullish