NZDUSD 09-01-2018 Intra-day analysis

USD rebounds, but trades mixed

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NZDUSD intra-day analysis

NZDUSD (0.7175): The New Zealand dollar was broadly muted yesterday as price action consolidates above the 0.7160 handle. The Stochastics oscillator shows price action losing its momentum. This could indicate a downside correction in NZDUSD if the support at 0.7160 fails. The next lower support at 0.7062 could be the next target on a downside breakout from the current levels. To the upside, further gains can be expected only on a rebound off the support level at 0.7160, but it looks unlikely at this point.


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