NZDUSD surpasses the target – Analysis - 03-03-2017

The NZDUSD pair continued to rally bearishly to touch our main waited target at 0.7049, starting today with more bearish bias to break the mentioned level and open the way to extend the bearish wave on the short term basis, targeting 0.6973 areas mainly.

Therefore, the bearish trend will remain dominant on the upcoming trading, noting that the continuation of the bearish trend depends on holding below 0.7174, while breaking 0.6973 represents the key to head towards the previously recorded low at 0.6848.

Expected trading range for today is between 0.6915 support and 0.7112

Expected trend for today: Bearish