NZDUSD breaks the support – Analysis - 21-02-2017

The NZDUSD pair opened today's trading with clear negativity to break 0.7174 level and settles below it, which opens the way to extend the correctional bearish wave on the intraday basis, to head towards 0.7112 and might extend to 0.7049 areas as next main targets.

Therefore, the bearish bias will be suggested in the upcoming sessions supported by the negative pressure formed by the EMA50, noting that breaching 0.7174 level will stop the current negative pressure and pus the price back to resume its main bullish track again.

Expected trading range for today is between 0.7049 support and 0.7215

Expected trend for today: Bearish