NZDUSD awaits the confirmation signal – Analysis - 21-03-2017

The NZDUSD pair hovers around 0.7049 resistance after attempting to breach it yesterday, and it could not manage to confirm the breach until now, which makes us continue with our neutrality until the price confirms its next destination clearly, waiting to breach the mentioned resistance or breaking 0.6915 support to detect the next targets on the short term basis.

Note that breaching 0.7049 will open the way to the price return to its main bullish track that its targets begin at 0.7215 and extend to 0.7484, while breaking 0.6915 will push the price to extend its bearish correction towards 0.6780 initially.

Expected trading range for today is between 0.6950 support and 0.7150

Expected trend for today: Depends on the above mentioned levels