NZDUSD loses the bullish momentum – Analysis - 25-11-2016

The NZDUSD pair shows sideways trading since yesterday to fluctuate around 0.7000 level, noticing that stochastic loses its positive momentum gradually approaching from the overbought areas, which forms negative factor that we are waiting to motivate the price to rebound bearishly and resume the correctional bearish trend again.

Therefore, the bearish bias will remain suggested in the upcoming sessions supported by the negative pressure provided by the EMA50, and the next targets start at 0.6914 and extend to 0.6780, noting that the continuation of the expected decline depends on the stability below 0.7049 and the most important below 0.7140.

Expected trading range for today is between 0.6900 support and 0.7100

Expected trend for today: Bearish