NZDUSD begins negatively – Analysis - 23-02-2018

The NZDUSD pair opens today’s trading with strong negativity to approach the key support 0.7281, which represents 23.6% Fibonacci correction for the rise from 0.6779 to 0.7436, which means that breaking it will push the price to extend the bearish correction towards 0.7185 as a next station.

Until now, our neutrality still valid until the price confirms breaking the above mentioned support or breaching 0.7365 resistance, noting that breaching this resistance will push the price to regain its main bullish track that its targets begin at 0.7436 and extend to go further towards 0.7550 after breaching the previous level.

Expected trading range for today is between 0.7220 support and 0.7400

Expected trend for today: Depends on the above mentioned levels