NZDUSD approaches from the broken support – Analysis - 13-03-2017

The NZDUSD pair shows bullish bias to approach from retesting the previously broken support that turns into resistance now at 0.6960, where the price affected by stochastic positivity, while the bearish correctional trend remains the dominant unless breaching the mentioned level, where breaching this level will lead the price to attempt to regain the main bullish track that its targets begin at 0.7049 and extend to 0.7215.

The price needs to be traded below 0.6915 to confirm the continuation of the bearish trend that its next main target located at 0.6780.

Expected trading range for today is between 0.6800 support and 0.7000

Expected trend for today: Bearish