NZDUSD 09-01-2018 Intra-day analysis
USD rebounds, but trades mixed
![NZDUSD 09.01.18](https://assets.iorbex.com/blog/wp-content/uploads/2018/01/18021405/NZDUSD-09.01.18.png)
NZDUSD intra-day analysis
NZDUSD (0.7175): The New Zealand dollar was broadly muted yesterday as price action consolidates above the 0.7160 handle. The Stochastics oscillator shows price action losing its momentum. This could indicate a downside correction in NZDUSD if the support at 0.7160 fails. The next lower support at 0.7062 could be the next target on a downside breakout from the current levels. To the upside, further gains can be expected only on a rebound off the support level at 0.7160, but it looks unlikely at this point.