NZDUSD approaches from the first target – Analysis - 09-01-2017

The NZDUSD pair traded with clear negativity after approaching from 0.7049 level in the last week, to begin testing the EMA50 now, approaching from our first waited target at 0.6915, reminding you that breaking this level is required to confirm the continuation of the bearish trend then opening the way towards targeting 0.6780 level on the near basis.

Therefore, the bearish bias will remain the dominant in the upcoming sessions if the price settled below 0.7049 level, where breaching this level represents positive factor that will lead the price to provide recovery attempt to head towards 0.7215 initially.

Expected trading range for today is between 0.6820 support and 0.7000

Expected trend for today: Bearish