NZD USD under the negative pressure – Analysis - 25/05/2015

The NZDUSD pair shows bearish bias after the EMA50 formed good resistance against the intraday trading, to approach gradually from the key support that declines now to 0.7230, and as we mentioned in our last reports, this level represents one of the next trend keys besides 0.7440 resistance, as we are waiting to breach one of them to detect the next destination clearly.

Therefore, we will continue with our neutrality until getting a clearer trend signal, reminding you that breaking the mentioned support will put the price back to the main bearish track, and the targets begin at 0.6860, while breaching the resistance will lead the price to achieve gains that start at 0.7700 and extend to 0.7905.

Expected trading range for today is between 0.7200 support and 0.7400 resistance.

Expected trend for today: Neutral