NZD USD within tight track – Analysis - 28/08/2015

The NZDUSD pair fluctuates within sideways and tight track between the key support 0.6395 and 0.6550 resistance, noticing that stochastic loses its positive momentum on the intraday time frames to support the chances of bouncing bearishly and resume the bearish trend again, as the EMA50 continues to support the suggested negative scenario, which its targets begin by breaking 0.6395 level to open the way to visit the psychological barrier at 0.6000.

It is important to note that the continuation of the suggested bearish trend depends on holding below 0.6550 and 0.6605 levels.

Expected trading range for today is between 0.6300 support and 0.6550 resistance.

Expected trend for today: Bearish