Midday update for the NZDUSD 20-05-2019

Economies.com
2019-05-20 10:28AM UTC

The NZDUSD pair shows some slight bullish bias to move near the bearish channel’s resistance, accompanied by stochastic loss to the positive momentum and reach the overbought areas, while the EMA50 keeps pressing negatively on the price.

 

Therefore, these factors support the expectations of continuing the bearish trend in the upcoming sessions, which targets 0.6425 level mainly, while holding below 0.6580 represents initial condition to continue the suggested decline.

 

The expected trading range for today is betwenen 0.6460 support and 0.6560

 

The expected trend for today: Bearish

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