NZD USD awaits the confirmation – Analysis - 22/12/2014

The NZDUSD pair trades within sideways range recently, while we are still waiting to confirm the next trend, as the price needs to breach one of the key levels represented by 0.7700 support and 0.7820 resistance to detect the next track clearly, noting that breaking the mentioned support will push the price to continue the major bearish trend, which its next targets reach 0.7600, while breaching the resistance will lead to new test to 0.7905-0.7925 areas.

Therefore, we will continue with our neutrality until now, noting that the contradiction between stochastic positivity and the EMA50 negativity forms another reason for neutrality.

Expected trading range for today is between: 0.7600 support and 0.7905 resistance.

Expected trend for today: Neutral