NZDUSD faces solid resistance – Analysis - 19-01-2017

Economies.com
2017-01-19 04:54AM UTC

The NZDUSD pair bounced downwards clearly after testing 0.7215 level, to approach from leaning on 0.7100 barrier and turn back to rise again, which provides signals of the price heading to resume the main bullish trend, which its targets begin by breaching 0.7215 level to rally towards 0.7329 as a next main station.

 

Therefore, our bullish overview will remain valid on the intraday and short term basis unless breaking 0.7049 level and holding below it, noting that the EMA50 and stochastic keep providing the positive support to the price.

 

Expected trading range for today is between 0.7070 support and 0.7260

 

Expected trend for today: Bullish

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