NZDUSD resumes the decline – Analysis - 30-10-2017

Economies.com
2017-10-30 04:25AM UTC

The NZDUSD pair resumes its negative trading after the slight rise that it witnessed in the previous sessions, supported by the negative signal provided by stochastic now, besides the pressure coming by the EMA50.

 

Therefore, we believe that the chances are valid to achieve more decline in the upcoming sessions, and the price needs to break 0.6817 level to confirm extending the bearish wave towards 0.6617, noting that holding below 0.6992 represents the most important condition to continue the suggested bearish wave.

 

Expected trading range for today is between 0.6750 support and 0.6900

 

Expected trend for today: Bearish

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