NZDUSD tests the initial resistance – Analysis - 28-12-2016
Economies.com
2016-12-28 04:48AM UTC
The NZDUSD pair starts today with bullish bias to test 0.6915 level, which forms key initial resistance to the continuation of the recently suggested negative scenario, supported by the EMA05 besides stochastic approach from the overbought areas.
Therefore, we believe that the chances are valid to resume the bearish trend in the upcoming sessions unless breaching 0.6915 and 0.6970 levels, reminding you that our next main target is located at 0.6780.
Expected trading range for today is between 0.6800 support and 0.6970
Expected trend for today: Bearish
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