NZDUSD tests the resistance – Analysis - 16-05-2017
Economies.com
2017-05-16 04:31AM UTC
The NZDUSD pair tested the key resistance 0.6915 and kept its stability below it, to keep the bearish trend valid for the upcoming period, organized inside the bearish channel that appears on the above chart, supported by the negative pressure formed by the EMA50.
Therefore, we are waiting for negative trading in the upcoming sessions, and the targets begin at 0.6780 and extend to 0.6614, taking into consideration that breaching 0.6915 will stop the current negative pressure and push the price to recover on the short term basis.
Expected trading range for today is between 0.6780 support and 0.6950
Expected trend for today: Bearish
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