Forex Trading Library

NZDUSD 10-01-2018 Intra-day analysis

Yen strengthens on rumors of BoJ tightening

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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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