NZD USD attempts positively – Analysis - 05/10/2015

The NZDUSD pair closed last week trading above 0.6395 level, which makes us stop the suggested negative scenario in our last reports and we stay aside in order to monitor the price behavior according to the critical levels that represented by 0.6395 support and 0.6455 resistance, waiting for breaching one of them to detect the next trend clearly.

Note that breaching the mentioned resistance will provide positive motive that pushes the price to stop the bearish bias then head towards levels that begin at 0.6705 and extend to 0.6860, while breaking 0.6395 support represents the key return to the main bearish trend.

Expected trading range for today is between 0.6300 support and 0.6600 resistance.

Expected trend for today: Neutral