NZDUSD declines again – Analysis - 24-11-2016
Economies.com
2016-11-24 04:44AM UTC
The NZDUSD pair resumed its negative trading yesterday after the EMA50 formed solid resistance barrier against the recent positive attempts, to keep the bearish trend dominant on the intraday and short term trading, and the way is open to visit 50% Fibonacci correction level that forms key support at 0.6914, as breaking it represents the key to extend the correctional bearish wave to reach 0.6780 as a next main station.
Therefore, we will keep our bearish trend expectations for the upcoming period unless the price managed to breach 0.7049 and the most important 0.7135 levels.
Expected trading range for today is between 0.6860 support and 0.7049
Expected trend for today: Bearish
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