Midday update for NZDUSD 17-07-2018

The NZDUSD pair ralied upwards strongly to breach 0.6790 level and settles around 0.6827 now, and it might keep achieving gains to test the bearish channel’s resistance at 0.6860, noticing that stochastic moves at the overbought areas to support the chances of bouncing bearishly and resume the main bearish trend inside the mentioned channel.

Now, we prefer staying aside in order to monitor the price behavior according to the key levels represented by 0.6860 resistance and 0.6774 support, as breaching this resistance will push the price to achieve more gains and target 0.6913 followed by 0.7000 levels as next main stations, while breaking the support will press the price to resume the bearish trend that its next target located at 0.6670.

Expected trading range for today is betwenen 0.6670 support and 0.6870

Expected trend for today: Neutral