NZD USD attempts to recover – Analysis - 27/10/2014

The NZDUSD pair shows bullish bias with the opening of today’s trading, as it approaches from testing the key resistance 0.7905, which represents one of the next trend’s keys besides 0.7720 support, as we are waiting the price to confirm breaching one of these levels to detect the next destination clearly.

Therefore, our neutrality will remain valid until now, waiting to get clearer signal for the trend, noting that breaching the above mentioned resistance will push the price towards 0.8120 initially, while breaking the support will push the price to suffer more losses that might reach 0.7330 areas.

Expected trading range for today is between: 0.7755 support and 0.7985 resistance.

Expected trend for today: Neutral