NZDUSD faces solid resistance – Analysis - 01-12-2016
Economies.com
2016-12-01 05:09AM UTC
The NZDUSD pair bounced bearishly after the price found solid resistance formed by the previously broken support of the bullish channel that appears on chart at 0.7155, to approach from testing the key support 0.7049 again, accompanied by stochastic move inside the oversold areas, besides the EMA50 meet with the mentioned support to add more strength to it.
Therefore, these factors encourage us to continue suggesting the bullish trend in the upcoming sessions conditioned by the price stability above 0.7049, reminding you that our main targets begin at 0.7215 and extend to 0.7483.
Expected trading range for today is between 0.7000 support and 0.7215
Expected trend for today: Bullish
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