NZD USD inside the channel – Analysis - 31/10/2014

The NZDUSD pair traded with positivity yesterday evening to settle above the minor bullish channel’s support, but the price is falling under negative pressure that comes from the EMA50 and stochastic, which makes us prefer staying aside until the price manages to offer clearer confirmation signal for the next trend, through breaching one of the key levels represented by 0.7720 support and 0.7905 resistance, reminding you that breaking this support will push the price to strong decline that its main targets reach 0.7330, while breaching the resistance will motivate the price to turn back to the bullish trend again, with targets that begin at 0.8130 and extend to 0.8400.

Expected trading range for today is between: 0.7720 support and 0.7975 resistance.

Expected trend for today: Neutral