NZDUSD negotiates the initial resistance – Analysis - 21-12-2016
Economies.com
2016-12-21 05:09AM UTC
The NZDUSD pair fluctuates around 0.6915 level, which forms the first protecting factor to the continuation of the bearish trend overview besides the next resistance at 0.6970, and as long as the price is below these levels, the bearish trend will remain valid in the upcoming period, waiting to head towards 0.6780 as a next main station.
The EMA50 keeps pushing negatively on the price to support the suggested decline, while stochastic reaches the overbought areas to add more confirmation to the continuation of the suggested negative scenario.
Expected trading range for today is between 0.6800 support and 0.7000
Expected trend for today: Bearish
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