NZDUSD still inside the channel – Analysis - 18-05-2017

The NZDUSD pair traded with clear positivity yesterday's evening to test the bearish channel's resistance that appears on chart, which is met by the EMA50 to add more strength to it, noticing that the price begins today with bearish bias to hint the continuation of the domination of the overall bearish trend.

Therefore, we will continue to suggest the bearish trend on the intraday and short term basis conditioned by holding below the bearish channel's resistance at 0.6940, reminding you that our main targets begin at 0.6780 and extend to 0.6614.

Expected trading range for today is between 0.6800 support and 0.7000

Expected trend for today: Bearish