NZDUSD gets the positive momentum – Analysis - 18-08-2017

The NZDUSD pair leaned on 0.7275 level that returns to form support now after breaching it previously and kept its stability above it, accompanied by stochastic entering the oversold areas, to provide positive motive that we are waiting to assist to push the price to rise in the upcoming sessions.

By taking a deeper look at the chart, we find that the price draws positive formation that its confirmation line located at 0.7329, which means that breaching this level will push the price to extend its gains and surpass 0.7383 level and open the way to head towards 0.7450 followed by 0.7558 as next main targets.

Therefore, we will continue to suggest the bullish trend on the intraday and short term basis conditioned by holding above 0.7275.

Expected trading range for today is between 0.7220 support and 0.7390

Expected trend for today: Bullish