NZD USD awaits the positive pattern’s effect 23/09/2013
Economies.com
2013-09-23 05:13AM UTC
The pair provides slight bearish bias recently and we notice the limitation of the trading inside the falling wedge pattern that appears in the image, which means that breaching the resistance of this pattern at 0.8385 will provide positive motive that supports the resumption of the overall bullish trend.
Therefore, we remain preferring the bullish trend, which is supported by the EMA50 and Stochastic reach to the oversold levels, waiting for targets that begin at 0.8520
Expected trading range for today is between: 0.8300 support and 0.8520 resistance.
Expected trend for today: Bullish
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