NZDUSD retests again – Analysis - 03-01-2017

The NZDUSD pair returns to trade positively to approach from retesting 0.6975 level, and as long as the price is below this level, the negative effect of the head and shoulders' pattern will remain active, waiting to resume the short term bearish trend, which its next main target located at 0.6780.

Therefore, our bearish trend expectations will remain valid until now, noting that breaching 0.6975 level will push the price to test 0.7049 level direct before any new attempt to decline.

Expected trading range for today is between 0.6820 support and 0.7049

Expected trend for today: Bearish