NZDUSD faces solid resistance – Analysis - 03-02-2017

The NZDUSD pair showed new attempt to breach 0.7329 level but it found difficulty to confirm the breach, to rebound bearishly and test the EMA50, noticing that stochastic gains the positive momentum clearly on the four hours' time frame, which forms positive factor that we expect to motivate the price to resume the attempts to breach the mentioned resistance again.

Therefore, our bullish overview will remain valid on the intraday and short term basis unless breaking 0.7215 level and holding below it, reminding you that our next main target is located at 0.7484.

Expected trading range for today is between 0.7200 support and 0.7400

Expected trend for today: Bullish