NZDUSD gets a positive signal – Analysis - 07-12-2016

The NZDUSD pair fluctuates near the EMA50 that forms good support base that protect the price from achieving more downside moves, while stochastic approaches from the oversold level and begins to provide positive overlapping signal on the four hours time frame, forming a positive motive that we wait to assist to push the price to resume the bullish trend in the upcoming period, waiting for breaching 0.7170 level to confirm the return to the main bullish channel.

Therefore, we keep preferring the bullish trend on the intraday and short term basis, conditioned by holding above 0.7049 level, reminding you that our main targets begin at 0.7215 and extend to 0.7483.

Expected trading range for today is between 0.7049 support and 0.7215

Expected trend for today: Bullish