NZDUSD tests the key support – Analysis - 17-06-2016

The NZDUSD pair traded with a clear negativity in yesterday’s evening to test the critical support at 0.6965 and bounced strongly to the upside from there, which makes the trading settle again above 0.7034 level, reinforcing the continuation of the bullish trend scenario on the short- term basis, which its targets begin by testing the recently recorded top at 0.7145.

The EMA50 and stochastic supports the expected rise, and its continuation conditioned by holding above 0.6965 level.

Expected trading range for today is between 0.7000 support and 0.7200

Expected trend for today: Bullish