NZDUSD 02-01-2018 Intra-day analysis

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NZDUSD intra-day analysis

NZDUSD (0.7113): The New Zealand dollar rallied to a 2-month high on Friday with early price action today suggesting that the currency pair is maintaining the bullish momentum. Further upside gains could be seen coming with the resistance level of 0.7160 likely to be tested. On the intraday chart, NZDUSD is seen bouncing off the lower median line which could keep prices supported. A breakout from the lower median line could however suggest a correction. Support at 0.7062 remains the first level of defence, failing which, NZDUSD could be seen correction to 0.6917.




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