NZDUSD Corrective Bull Pressure Remains Intact

Mohammed Isah FXTechstrategy

NZDUSD corrective bull pressure remains intact as it saw a rally during Thursday trading session. Resistance resides at the 0.6650 level where a break will turn attention to the 0.6700 level. A break of here will have to occur to create scope for a move towards the 0.6750 level. Further out, resistance stands at the 0.6800 level. Its daily RSI is bullish and pointing higher suggesting further strength. Support stands at the 0.6500 level. Further down, the 0.6450 level comes in as the next downside target. All in all, NZDUSD faces further upside pressure on corrective recovery. NZDUSD corrective bull pressure remains intact as it saw a rally during Thursday trading session.

Author

Mohammed Isah

FXTechstrategy

Mohammed Isah is a technical strategist and head of research at FXTechstrategy.com, a technical-research Web site. He has been trading and analyzing the foreign exchange market since 2010.

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