NZDUSD attempts to recover – Analysis - 14-02-2017

The NZDUSD pair ended yesterday’s trading exactly at 0.7174, showing positive attempts since the last decline, motivated by the positive signal that comes from stochastic, which supports the chances for rising in the upcoming sessions, and the price needs to breach 0.7200 level to ease the mission of resuming the main bullish trend, which stopped to make some bearish correction that its lines appear in the image.

Therefore, we wait for positive trading for today, and the main targets begin at 0.7250 and extend to 0.7375, being aware that breaking 0.7174 then 0.7150 level will put the price under negative pressure that targets testing 0.7112 levels and might extend to 0.7049 before any new positive attempt.

Expected trading range for today is between 0.7100 support and 0.7280

Expected trend for today: Bullish