NZDUSD hits the first target – Analysis - 09-08-2018

The NZDUSD pair opened today’s trading with strong negativity to succeed reaching our first waited target at 0.6660, noting that settling below the recently recorded low at 0.6688 supports the chances of extending the bearish wave towards our next waited target at 0.6575.

Therefore, we will continue to suggest the bearish trend on the intraday and short term basis, noting that holding below 0.6730 represents the first condition to continue the expected decline.

Expected trading range for today is betwenen 0.6575 support and 0.6730

Expected trend for today: Bearish