NZDUSD 2017-12-21 Intra-day analysis

BoJ leaves monetary policy unchanged. NZD GDP rises 0.6%

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NZDUSD intra-day analysis

NZDUSD (0.7007): The New Zealand dollar posted some declines, but price action managed to bounce off the lower median line. As price attempts to test the previous highs we see that the Stochastics oscillator has been posting a lower high. This bearish divergence could indicate a potential correction to the downside. Support at 0.6917 remains in focus while to the upside, the continued momentum could keep the NZDUSD testing the next resistance level at 0.7062.


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