Midday update for NZD USD 02/05/2013
Economies.com
2013-05-02 10:57AM UTC
The pair trades with slight bearish bias since morning and the negative effect of Stochastic continues, where we remain in our neutrality for today waiting for surpassing one of the critical levels that mentioned this morning which will confirm the next trend.
Note that breaching above 0.8570 will turn the price to the bullish channel again, while breaking below 0.8415 will cause downside rally which its targets begin around 0.8295 followed by 0.8175
Expected trading range for today is between: 0.8355 support and 0.8585 resistance.
Expected trend for today: Neutral
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