NZDUSD breaches the resistance – Analysis - 07-02-2017

The NZDUSD pair succeeded to breach the critical resistance at 0.7329 and attempts to settle above it, which supports the continuation of our bullish trend continuation efficiently in the upcoming period efficiently in the upcoming period, supported by the EMA50, waiting for heading towards 0.7484 that represents our next main target.

Therefore, the bullish bias will remain preferred in the upcoming sessions, pointing that holding above 0.7329 represents an initial condition for the continuation of the suggested rise, where breaking it will push the price to test 0.7215 levels again before any new attempt to rise.

Expected trading range for today is between 0.7300 support and 0.7484

Expected trend for today: Bullish