NZDUSD still inside the channel – Analysis - 18-05-2017

Economies.com
2017-05-18 04:20AM UTC

The NZDUSD pair traded with clear positivity yesterday's evening to test the bearish channel's resistance that appears on chart, which is met by the EMA50 to add more strength to it, noticing that the price begins today with bearish bias to hint the continuation of the domination of the overall bearish trend.

 

Therefore, we will continue to suggest the bearish trend on the intraday and short term basis conditioned by holding below the bearish channel's resistance at 0.6940, reminding you that our main targets begin at 0.6780 and extend to 0.6614.

 

Expected trading range for today is between 0.6800 support and 0.7000

 

Expected trend for today: Bearish

Forex and Currency News

Forex News

Forex

Dollar hovers near six-week high ahead of consumer spending data, Powell's remarks
2024-03-29 11:28AM UTC
Dollar Strengthens Amid Declining Rate Cut Odds The dollar rose in European trade on Friday ...
EUR/USD news

Forex

Euro declines to five-week trough amid thin trading
2024-03-29 08:19AM UTC
Euro Decline Amid Holiday Thin Trading Euro declined in European trade on Friday against a basket ...
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 ...

Forex Technical Analysis

Technical Analysis

Forex

The NZDCAD moves to the bearish track – Forecast today – 29-3-2024
2024-03-29 06:18AM UTC
NZDCAD Pair Forecast for Today - 29-3-2024 The NZDCAD pair surrendered to the negative ...
EUR JPY Analysis

Forex

The EURJPY declines below the support – Forecast today – 29-3-2024
2024-03-29 06:13AM UTC
EURJPY Pair Forecast for Today - 29-3-2024 The EURJPY pair surrendered to the negative ...
GBP JPY Analysis

Forex

The GBPJPY has to decline – Forecast today – 29-3-2024
2024-03-29 06:12AM UTC
GBPJPY Pair Forecast for Today - 29-3-2024 The GBPJPY pair still confined with many negative ...