NZDUSD breaks the support – Analysis - 21-02-2017

Economies.com
2017-02-21 05:23AM UTC

The NZDUSD pair opened today's trading with clear negativity to break 0.7174 level and settles below it, which opens the way to extend the correctional bearish wave on the intraday basis, to head towards 0.7112 and might extend to 0.7049 areas as next main targets.

 

Therefore, the bearish bias will be suggested in the upcoming sessions supported by the negative pressure formed by the EMA50, noting that breaching 0.7174 level will stop the current negative pressure and pus the price back to resume its main bullish track again.

 

Expected trading range for today is between 0.7049 support and 0.7215

 

Expected trend for today: Bearish

Forex and Currency News

Forex News

Forex

Dollar hits six-week high ahead of US growth data
2024-03-28 11:38AM UTC
US Dollar's Rise in European Trade The US dollar rose in European trade on Thursday against a ...
EUR/USD news

Forex

Euro sharpens decline to five-week trough on the interest rate gap
2024-03-28 08:30AM UTC
Euro declined in European trade on Thursday against a basket of major rivals, sharpening losses for ...
Forex News

Forex

Dollar under pressure ahead of Christopher Waller's speech
2024-03-27 11:18AM UTC
The dollar declined in European trade on Wednesday against a basket of major rivals away from ...

Forex Technical Analysis

EUR USD Analysis

Forex

End of day EURUSD price forecast update - 28-03-2024
2024-03-28 17:42PM UTC
The EURUSD price provided additional negative trades to reach the thresholds of the first waited ...
NZD USD Analysis

Forex

The NZDUSD price forecast update 28-03-2024
2024-03-28 10:19AM UTC
NZDUSD Price Analysis The NZDUSD price resumes its negative trading to move away from 0.6000$ ...
AUD USD Analysis

Forex

The AUDUSD price forecast update 28-03-2024
2024-03-28 10:19AM UTC
AUDUSD Price Analysis The AUDUSD price achieved initial break to 0.6500$ level and closed the ...