NZDUSD awaits the confirmation – Analysis - 11-01-2017

The NZDUSD pair tested the key support 0.6975 yesterday and bounced bullishly from there, to keep the price stuck between the key levels represented by the mentioned support and 0.7049 resistance, which represent the next trend keys, and as we mentioned in our previous reports, the price needs to breach one of these levels to detect its next targets clearly.

Therefore, we will continue with our neutrality until getting clearer confirmation signal for the next trend, reminding you that breaching the mentioned resistance will push the price to achieve gains that start at 0.7215 and extend to 0.7484, while breaking 0.6975 support will put the price under negative pressure that its targets begin by testing 0.6915 level and extend to 0.6780.

Expected trading range for today is between 0.6915 support and 0.7000

Expected trend for today: Depends on the above mentioned levels