NZDUSD retests – Analysis - 02-03-2017
Economies.com
2017-03-02 05:22AM UTC
The NZDUSD pair approached from retesting 0.7174 level that turns into key resistance now after breaking it previously and bounced bearishly from there, to start testing 0.7112 support, waiting to break this level to confirm the extension of the correctional bearish wave towards 0.7049.
Therefore, the bearish bias will remain suggested in the upcoming sessions supported by the negative pressure formed by the EMA50, reminding you that breaching 0.7174 level will lead the price to stop the current bearish correction and regain its main bullish track again.
Expected trading range for today is between 0.7049 support and 0.7215
Expected trend for today: Bearish
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