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NZDUSD approaches the target – Analysis - 09-05-2018
The NZDUSD pair continues to decline to apporach our waited target at 0.6934, which represents 76.4% Fibonacci correction level for the rise measured from 0.6779 to 0.7436, which means that breaking this level will extend the bearish wave to target the mentioned low at 0.6779 as a next station.
The EMA50 keeps pushing negatively on the price to support the chances of continuing the decline, making the bearish trend suggested in the upcoming sessions unless the price managed to breach 0.7030 level and hold above it.
Expected trading range for today is between 0.6880 support and 0.7030
Expected trend for today: Bearish
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