NZDUSD under the negative pressure – Analysis - 20-04-2018

The NZDUSD pair traded with strong negativity yesterday to break 0.7281 level and close the daily candlestick below it, which puts the price under the correctional bearish pressure again, on its way to test 0.7185 as a first main station.

Therefore, we expect witnessing more decline in the upcoming sessions, noting that breaking the targeted level will push the price towards 50% Fibonacci correction level at 0.7108, while breaching 0.7281 represents the key to be released from the current negative pressure and regain the main bullish trend.

Expected trading range for today is between 0.7160 support and 0.7300

Expected trend for today: Bearish