NZDUSD approaches the support – Analysis - 07-12-2017

The NZDUSD pair continues to decline to approach the symmetrical triangle's support line, located now at 0.6830, waiting to break this level to activate the negative effect of the mentioned pattern followed by rallying to attack the previously recorded low at 0.6780, reminding you that breaking this level will extend the pair's losses to reach 0.6620.

Therefore, we will continue to suggest the bearish trend for today, noting that breaching 0.6964 will stop the expected decline and lead the price to start short term bullish correction.

Expected trading range for today is between 0.6780 support and 0.6900

Expected trend for today: Bearish