NZDUSD 10-01-2018 Intra-day analysis.

Yen strengthens on rumors of BoJ tightening

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NZDUSD 10.01.18

NZDUSD intra-day analysis

NZDUSD (0.7170): The New Zealand dollar was seen holding on to the gains with price briefly testing the support established at 0.7160. Price action has remained flat above this level and comes at a risk of a downside correction to 0.7062. However, the Stochastics oscillator is currently pointing to the bullish momentum being resumed. This could see NZDUSD sustained above the 0.7160 handle. Assuming the sharp rising wedge pattern is validated, we could expect to see some downside correction taking place.

 

 

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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.

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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.

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