NZD USD achieves good gains – Analysis - 19/12/2014
Economies.com
2014-12-19 06:07AM UTC
The NZDUSD pair breached 0.7720 level and settled above it, to cancel the double top pattern’s effect mentioned yesterday, and we need to stop aside now temporarily to monitor the price behavior according to the key levels represented by 0.7830 resistance and 0.7725 support, as breaching this level will push the price to visit 0.7905 – 0.7925 areas mainly, while breaking the support will reactivate the overall bearish trend scenario that its initial targets located at 0.7600.
The contradiction between the EMA50 positivity and stochastic negativity is another reason for neutrality.
Expected trading range for today is between: 0.7650 support and 0.7905 resistance.
Expected trend for today: Neutral
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