Midday update for NZDUSD 09-11-2017

The NZDUSD pair shows sideways trading since morning keeping its stability below 0.6992, thus, no change to our bearish overview that depends on holding below the mentioned level, waiting to break 0.6895 level to activate the negative effect of the bearish flag pattern that appears on chart, which will open the way to attack 0.6818 level followed by heading towards 0.6617 on the near term basis.

We should note that holding below 0.6992 represents key condition to continue the expected decline and guarantee not starting bullish correction on the intraday basis.

Expected trading range for today is between 0.6860 support and 0.6992

Expected trend for today: Bearish