NZDUSD surpasses the first target – Analysis - 16-12-2016

The NZDUSD pair succeeded to reach our first main waited target at 0.7049, and it managed to break this level and close the daily candlestick below it, which supports the continuation of our bearish overview efficiently in the upcoming period, opening the way to head towards 0.6915 as a next main target.

Therefore, the bearish trend will remain dominant in the upcoming sessions supported by the EMA50, noting that breaching 0.7049 level will stop the current negative pressure and lead the price for recovery attempts that its main targets begin at 0.7215.

Expected trading range for today is between 0.6915 support and 0.7100

Expected trend for today: Bearish