NZDUSD approaches from the target again – Analysis - 23-01-2017

The NZDUSD pair bounced upwards strongly after approaching from the key support 0.7115 in the previous sessions, to reach 0.7215 level now, waiting to breach this level to reinforce the expectations of extending the bullish wave on the short term basis.

Stochastic provides positive signals that reinforce the chances of achieving the required breach followed by opening the way to head towards 0.7329 as a next main target, while the price needs to hold above 0.7115 to keep the chances of continuing the bullish momentum for today.

Expected trading range for today is between 0.7115 support and 0.7329

Expected trend for today: Bullish