Midday update for NZDUSD 20-12-2016

The NZDUSD pair managed to break 0.6915 level and closed the last four hours' candlestick below it, which supports the continuation of the bearish trend scenario efficiently on the short term and medium term basis, thus, the negative effect of the head and shoulders' pattern that appears on chart keeps pushing the price, reinforcing the expectations of targeting 0.6780 followed by 0.6614 levels as next main targets.

Therefore, the bearish trend will remain suggested for today unless breaching 0.6915 followed by 0.6970 levels and holding above them.

Expected trading range for today is between 0.6800 support and 0.7000

Expected trend for today: Bearish