The NZDUSD attempts to recover – Analysis - 17-05-2022
Economies.com
2022-05-17 04:02AM UTC
The NZDUSD pair couldn’t manage to break 0.6230 level, to trade with clear positivity and reach the bearish channel’s resistance that appears on the chart, hinting the beginning of potential bullish correction, which makes us prefer to stay aside until the price confirms its situation according to 0.6335 level.
Note that breaching the mentioned level will lead the price to achieve additional gains that start at 0.6380 and extend to 0.6465, while consolidating below it will press on the price to resume the main bearish wave that targets testing 0.6230 initially.
The expected trading range for today is between 0.6270 support and 0.6380 resistance
The expected trend for today: Neutral
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