NZD USD declines strongly – Analysis - 30/10/2014
Economies.com
2014-10-30 05:14AM UTC
The NZDUSD pair suffered strong losses yesterday to break 0.7905 followed by the minor bullish channel’s support at 0.7820, to stop yesterday’s suggested positive scenario, and drives us to turn back to our neutrality that remains valid as long as the price is limited between 0.7720 support and 0.7905 resistance.
We will wait to breach one of the mentioned levels, noting that breaching 0.7905 resistance will reactivate the bullish trend again, with targets that begin at 0.8000 followed by 0.8130, while breaking the support will push the price to suffer more losses on the short term basis, to target 0.7330 areas mainly.
Expected trading range for today is between: 0.7720 support and 0.7905 resistance.
Expected trend for today: Neutral
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