NZDUSD 17-01-2018 Intra-day analysis.

USD stays subdued as euro and yen maintain gains

Posted on
NZDUSD 17-01-2018

NZDUSD intra-day analysis

NZDUSD (0.7253): NZDUSD posted declines yesterday but price action has formed an inside bar as a result. This could potentially suggest a correction on a downwards breakdown. The support level 0.7160 remains the immediate level in question as it also marks the breakout from the falling trend line. A retest to this level could indicate new bullish momentum likely to emerge. On the 4-hour chart, NZDUSD could be seen posting declines on a close below 0.7260, targeting the initial level at 0.7160. If the support fails to hold NZDUSD, then we could expect to see further declines taking the kiwi dollar towards 0.6950 support.

 

 

(Visited 13 times, 1 visits today)

John has over 8 years of experience specializing in the currency markets, tracking the macroeconomic and geopolitical developments shaping the financial markets. John applies a mix of fundamental and technical analysis and has a special interest in inter-market analysis and global politics.

Follow Me:
Twitter

START TRADING

or practice on DEMO ACCOUNT

Trading CFDs Involves high risk of loss

John has over 8 years of experience specializing in the currency markets, tracking the macroeconomic and geopolitical developments shaping the financial markets. John applies a mix of fundamental and technical analysis and has a special interest in inter-market analysis and global politics.

© Orbex