NZDUSD needs the positive momentum – Analysis - 25-01-2017

The NZDUSD pair traded with clear positivity yesterday to approach from 0.7300 barrier, showing some bearish bias now to approach from retesting 0.7215 level again, noticing that the EMA50 keeps supporting the price from below.

Therefore, our bullish overview will remain valid and active in the upcoming period as long as the price is above 0.7215, it might be preceded by some temporary fluctuation until stochastic manages to get enough positive momentum to push the price to resume the main bullish trend, which its main targets begin at 0.7329 and extend to 0.7484.

Expected trading range for today is between 0.7170 support and 0.7350

Expected trend for today: Bullish