The NZDUSD achieves more gains – Analysis - 29-04-2019

The NZDUSD pair continued to provide the positive trades to breach 0.6654 level and settles above it, approaching to test the bearish channel’s resistance now, noticing that stochastic shows clear negative signals on the four hours’ time frame, which supports the chances of bouncing bearishly to resume the expected bearish trend for the upcoming period.

Therefore, the bearish bias will be suggested for the upcoming sessions unless the price rallie to breach 0.6690 and hold above it, noting that breaking 0.6654 is required to reinforce the expectations of heading towards 0.6515 as a next main station.

The expected trading range for today is betwenen 0.6600 support and 0.6720

The expected trend for today: Bearish