NZDUSD achieves some gains – Analysis - 06-01-2017

The NZDUSD pair traded with clear positivity yesterday's evening to approach from testing 0.7049 level, noticing that the price rebounds bearishly in attempt to resume the main bearish trend, and as we mentioned in our last report, holding below the mentioned level keeps the bearish trend scenario active until now, waiting to test 0.6915 level initially.

Therefore, the bearish trend will remain suggested in the upcoming sessions, noting that breaking 0.6915 level will push the price towards 0.6780 direct, while breaching 0.7049 will stop the expected decline and lead the price to recovery on the short term and medium term basis.

Expected trading range for today is between 0.6915 support and 0.7070

Expected trend for today: Bearish