NZDUSD tests the moving average – Analysis - 01-11-2017
Economies.com
2017-11-01 04:36AM UTC
The NZDUSD pair bounced upwards strongly after approaching from the key support 0.6817, to start testing the EMA50 that forms intraday resistance now at 0.6910, accompanied by stochastic reach to the overbought areas.
Therefore, we believe that the chances are valid to decline again, and the targets begin by breaking 0.6817 to confirm extending the bearish wave towards 0.6617, taking into consideration that breaching 0.6992 will stop the expected decline and lead the price to turn to rise on the short term basis.
Expected trading range for today is between 0.6800 support and 0.7000
Expected trend for today: Bearish
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