NZDUSD continues to decline – Analysis - 06-03-2017

The NZDUSD pair resumed its negative trades after retesting 0.7049 level, to approach from our next waited target at 0.6973, to keep the bearish track dominant in the upcoming sessions, organized inside the bearish channel that appears on chart.

Note that it is important to monitor the price behavior when reaching the targeted level, as breaking it will extend the bearish wave to reach the previously recorded low at 0.6848, while the bearish trend will remain suggested unless the price managed to breach 0.7049 followed by 0.7174 levels and hold above them.

Expected trading range for today is between 0.6900 support and 0.7100

Expected trend for today: Bearish