NZDUSD affected by the negative momentum – Analysis - 24-03-2017

The NZDUSD pair shows slight bearish bias after the last attempt to breach 0.7049 level, as the price was affected by stochastic negativity, to keep the price stuck between the key levels represented by the mentioned resistance and 0.6915 support, and as we mentioned in our previous reports, the price needs to breach one of these levels to detect its next destination clearly, which makes us continue with our neutrality until now.

Note that breaking 0.6915 will push the price to head towards 0.6780 direct, while breaching 0.7049 represents the first key to attempt to regain the main bullish trend, to start the positive targets at 0.7215 and extend to 0.7484.

Expected trading range for today is between 0.6915 support and 0.7135

Expected trend for today: Depends on the above mentioned levels