NZDUSD 04-01-2018 Intra-day analysis

NZDUSD (0.7103): The New Zealand dollar closed with a doji session for the third consecutive day on Wednesday. Price action shows a potential exhaustion to the rally since mid-November, which saw prices rising from the lows near 0.68. The Kiwi dollar is looking bullish at the moment but with the breakout from the median line, we expect that the current momentum could result in price posting a lower high. Unless NZDUSD manages to break past the previous high we expect to see a decline to 0.7062 initially.