NZDUSD gathers the positive momentum – Analysis - 09-12-2016

The NZDUSD pair returns to fluctuate around the main bullish channel's support after hitting 0.7215 level yesterday, as the price was affected by stochastic negativity, which reaches the oversold areas now to form positive factor that we are waiting to support the expectations of continuing the main bullish trend, which its targets begin by breaching 0.7215 level to open the way to extend the bullish wave towards 0.7483.

Therefore, we will continue to suggest the bullish trend in the upcoming sessions, taking into consideration that settling below 0.7170 might force the price to visit 0.7049 areas again before any new attempt to rise.

Expected trading range for today is between 0.7100 support and 0.7300

Expected trend for today: Bullish