NZDUSD surpasses the waited target – Analysis - 20-11-2017

The NZDUSD pair confirmed breaking 0.6818 level after closing last week below it, and it retests this level now that turns into key resistance, waiting to resume the bearish bias in the upcoming sessions, as our next target is located at 0.6618.

Therefore, we suggest the continuation of the bearish trend on the intraday and short trem basis, supported by the negative pressure formed by the EMA50, noting that breaching 0.6818 – 0.6862 levels will stop the expected bearish bias and push the price to test 0.6992 areas initially before any new attempt to decline.

Expected trading range for today is between 0.6720 support and 0.6900

Expected trend for today: Bearish