NZDUSD below the moving average – Analysis - 23-11-2016
Economies.com
2016-11-23 05:08AM UTC
The NZDUSD pair shows sideways trading since yesterday settling below the EMA50 that pushes negatively on the price, to remain stable below the key resistance level located at 0.7135, which keeps our bearish overview valid until now, waiting to resume the decline in the upcoming sessions.
Our next main target is located at 0.6914, noting that breaching 0.7135 level and holding above it will open the way to stop the current correctional bearish pressure followed by regaining the main bullish trend again.
Expected trading range for today is between 0.6914 support and 0.7135
Expected trend for today: Bearish
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