NZDUSD gathers the positive momentum – Analysis - 17-02-2017

The NZDUSD pair shows slight negative trading after facing the EMA50, to notice that stochastic got rid of its negativity and reaches the thresholds of the oversold levels, which supports the chances for bouncing higher to resume the main bullish trend, and the price needs to breach 0.7250 level to confirm the extension of the bullish wave to 0.7375.

Therefore, the bullish trend will remain preferred in the upcoming sessions conditioned by holding above 0.7174 level, where breaking this level will push the price to extend its bearish correction towards 0.7112 and might reach 0.7049 before any new attempt to rise.

Expected trading range for today is between 0.7120 support and 0.7329

Expected trend for today: Bullish