NZD USD is stuck 05/08/2013
Economies.com
2013-08-04 23:45PM UTC
The pair opened today’s trading with bearish gap that put it directly at the critical support level 0.7740, and we notice that trading is stuck now between the mentioned level and the upside channel’s support which turns into resistance now at 0.7860
Therefore, the price needs to surpass one of these levels to confirm the next trend, as breaking the mentioned level will lead into more short term decline towards 0.7625 initially, while breaching the resistance will turn back the positive momentum for the price.
Expected trading range for today is between: 0.7625 support and 0.7920 resistance.
Expected trend for today: Depends on the above mentioned levels
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