NZD USD retests 06/08/2013
Economies.com
2013-08-06 00:09AM UTC
The pair is retesting the previously broken bullish channel’s support which turns into resistance at 0.7865, while the price still stuck between this resistance and 0.7740 level, which makes us continue in the neutrality until managing to surpass one of these levels.
Stochastic shows bullish bias that supports the chances of breaching the resistance, but the EMA50 represents resistance against the intraday trading, which forces us to continue in monitoring the price until getting a clearer signal for the trend.
Expected trading range for today is between: 0.7700 support and 0.7980 resistance.
Expected trend for today: Depends on the above mentioned levels
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