NZDUSD retests – Analysis - 27-01-2017

The NZDUSD pair continued its negative trading to approach from testing 0.7215 level, which is met by the EMA50 to add more strength to it, accompanied by witnessing clear positive signals through stochastic, while we see signs of bullish channel that carries the bullish wave since the beginning of this month.

Therefore, these factors encourage us to continue with our bullish overview on the intraday and short term basis, and the main targets begin at 0.7329 and extend to 0.7483, noting that holding above 0.7215 represents key condition to continue the suggested bullish trend.

Expected trading range for today is between 0.7180 support and 0.7400

Expected trend for today: Bullish