NZDUSD tests the support – Analysis - 20-06-2017

The NZDUSD pair fell under negative pressure to break the bullish channel support that appears in the image, where the price begins to test the critical support at 0.7215 now, which requires being aware from the upcoming trading, where breaking this support will push the price towards more of the downside moves that its next target at 0.7049.

On the other hand, stochastic positivity might assist to protect the price from declining more, and breaching 0.7265 level will stop the current decline and leads the price to remain the main bullish track.

Therefore, we prefer staying aside temporarily in order to monitor the price behavior according to 0.7215 support and 0.7265 resistance to get clearer confirmation signal for the next trend.

Expected trading range for today is between 0.7150 support and 0.7300

Expected trend for today: Depends on the above mentioned levels