Midday update for NZDUSD 16-06-2017
Economies.com
2017-06-16 11:00AM UTC
The NZDUSD pair trades positively since morning to retest the previously broken support of the bullish channel that turns into resistance now at 0.7240, accompanied by stochastic reach to the thresholds of the overbought levels, to keep the bearish bias preferred for today unless breaching the mentioned level and holding above it, where breaching this level will turn the price to the main bullish track that targets 0.7329 then 0.7484 levels mainly.
Breaking 0.7215 level will confirm the continuation of the bearish bias for the rest of the day to head to our main waited target at 0.7049.
Expected trading range for today is between 0.7100 support and 0.7250
Expected trend for today: Bearish
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