NZDUSD rallies upwards – Analysis - 10-01-2017

The NZDUSD pair traded with clear positivity yesterday to settle at the critical resistance level at 0.7049 now, which provides signals for the price attempt to stop the bearish correctional pressure that controls the trading recently, then opens the way towards regaining the medium term bullish trend.

Now, we prefer staying aside in order to monitor the price behavior according to the critical levels that have the next trend keys that represented by 0.6975 support and 0.7049 resistance, where breaching this resistance represents positive factor that will confirm the continuation of the bullish rally to 0.7215 as a next main station, while breaking the support will push the price to decline again and targeting 0.6915 then 0.6780 levels mainly.

Expected trading range for today is between 0.6915 support and 0.7150

Expected trend for today: Depends on the above mentioned levels