NZDUSD 16-01-2018 Intra-day analysis.

USD extends declines across the board

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NZDUSD 16-01-2018

NZDUSD intra-day analysis

NZDUSD (0.7291): The New Zealand dollar followed a bullish engulfing pattern on the daily charts yesterday as price rallied to a 4-month high. NZDUSD closed at 0.7294. The strong breakout from the falling trend line suggests an imminent pullback in the near term. Support is seen at 0.7160 which could be tested in the medium to short term period. However, as long as NZDUSD remains firm above 0.7294, we expect to see further gains coming in store.

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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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