NZDUSD is stable – Analysis - 23-12-2016

The NZDUSD pair settles below 0.6915 level, to keep the negative pressure valid until now, thus, the bearish trend still valid for the upcoming period, waiting to resume the bearish bias that targets 0.6780 areas mainly.

We remind you that the current decline is affected by the previous completion of the head and shoulders' pattern, noting that holding below 0.6970 level represents key condition to continue the suggested bearish trend.

Expected trading range for today is between 0.6780 support and 0.6970

Expected trend for today: Bearish