Midday update for NZDUSD 01-08-2016

The AUDUSD pair fluctuates around 0.7595 level since morning, and we are still waiting to breach this level to confirm extending the bullish wave that its next target located at 0.7750.

Brent oil price trades with clear negativity after it found solid resistance at 43.85 level, which represents one of the next trend keys mentioned in our morning report, to start the pressure on the key support 43.00 in attempt to break it, which urges monitoring the upcoming trades carefully, as getting four hours close below the last level will put the price under more negative pressure followed by opening the way to head towards 39.96 as a next main station.

Crude oil price bounced bearishly after retesting 41.87 level, which supports the continuation of our bearish overview for efficiently for the upcoming period, reinforced by stochastic negativity that appears clearly on the four hours' time frame, and the way is open to continue the decline towards our main waited target at 38.84.