NZDUSD approaches the target – Analysis - 19-03-2018

The NZDUSD pair resumed its negative trading clearly to approach our main waited target at 0.7185, noting that the price forms triple top pattern now, which means that breaking the mentioned level will extend the pair’s losses to reach 0.7107 followed by 0.7030 on the short term basis.

The EMA50 forms negative pressure that supports the chances of continuing the bearish trend in the upcoming period, to keep the bearish bias suggested on the intraday and short term basis unless the price managed to breach 0.7281 level and hold above it.

Expected trading range for today is between 0.7120 support and 0.7281

Expected trend for today: Bearish