NZDUSD attempts to gather the positive momentum – Analysis - 29-11-2016

The NZDUSD pair fluctuates within tight track since yesterday, keeping its stability above 0.7049 level, thus, the bullish trend scenario will remain valid until now, supported by the price move above the EMA50, noting that stochastic attempts to get rid of its negativity on the intraday time frames and gain the positive momentum gradually.

Our positive targets start at 0.7140 and extend to 0.7483 after breaching the previous level, taking into consideration that breaking 0.7049 level will push the price to return to the correctional bearish track again, which its next target located at 0.6914.

Expected trading range for today is between 0.7000 support and 0.7200

Expected trend for today: Bullish