NZD USD within tight track – Analysis - 26/05/2015

The NZDUSD pair hovers around 0.7330 level and shows very tight trading as appears on image, while the price still limited between the trend confirmation levels represented by 0.7220 support and 0.7440 resistance, which keeps our neutrality valid until now, waiting to breach one of these levels to detect the next targets clearly.

We remind you that breaking the above mentioned support will push the price to return to the main bearish trend that its targets start at 0.6860 and extend to 0.6500, while breaching the resistance will offer an initial motive to stop the current negative pressure, followed by achieving positive targets that start at 0.7700 then 0.7905.

Expected trading range for today is between 0.7200 support and 0.7400 resistance.

Expected trend for today: Neutral