Midday update for NZDUSD 01-03-2017

The NZDUSD pair touched the initial waited target at 0.7112 and settles near it, waiting for more of the downside moves towards our next target at 0.7049, which represents 61.8% Fibonacci correction level for the rise that measured from 0.6848 to 0.7375.

Therefore, we wait for more of the downside moves for the rest of the day unless breaching 0.7174 level, which will push the price to resume the main bullish trend that its targets begin at 0.7250 and extend to 0.7375.

Expected trading range for today is between 0.7049 support and 0.7215

Expected trend for today: Bearish