NZDUSD achieves some gains – Analysis - 12-12-2017

The NZDUSD pair continues to provide positive attempts, on its way to test the key resistance 0.6964, while stochastic shows clear overbought now, which forms negative factor that we are waiting to push the price to resume the bearish bias in the upcoming sessions.

In general, holding below 0.6964 keeps the overall bearish trend scenario active, as breaching it will push the price to start bullish correction that targets 0.7077 areas initially, while the expected bearish wave targets begin by testing the recently recorded low at 0.6780.

Expected trading range for today is between 0.6840 support and 0.6964

Expected trend for today: Bearish