NZDUSD 11-01-2018 Intra-day analysis

Yen extends gains as investors digest BoJ's announcement

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NZDUSD intra-day analysis

NZDUSD (0.7185): The New Zealand dollar was broadly unmoved as the Kiwi maintained gains against the U.S. dollar. However, on the daily charts, price action closed with a strong outside bar and a possible bullish engulfing pattern as well. But the gains are capped by the falling trend line connecting the highs from July 27 and September 20 from last year. We expect some consolidation to take place but eventually NZDUSD is likely to post declines that could be confirmed on a break down below the current support at 0.7160.


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