NZD USD inside a minor continuation pattern – Analysis - 28/07/2015

The NZDUSD pair shows slight positive trading organized inside the minor bullish channel shown on the minor image, as we believe that this channel forms a continuation bearish flag pattern, which means that we need to break 0.6570 level to activate the negative effect of this pattern, which will allow the price to resume the overall bearish trend again.

In general, we will continue to suggest the bearish trend in the upcoming period as long as 0.6820 remain intact, noting that stochastic loses its positive momentum gradually to support the expectations to decline, waiting to test 0.6395 level initially.

Expected trading range for today is between 0.6500 support and 0.6700 resistance.

Expected trend for today: Bearish