The NZDUSD breaks the support – Analysis - 16-09-2019

The AUDUSD pair continues to fluctuate at the bearish channel’s resistance, and the price still stuck between the trend keys represented by 0.6830 support and 0.6885 resistance, as the price needs to breach one of these levels to detect its next destination clearly, which keeps our neutrality valid until now.

Brent oil price began the week trading with a strong bullish gap and a rise that approached from 20%  after the Aramco assaults, recording 67.50 level as the highest price for today, while it provides negative trading that puts the price below 65.92 now, showing signals for the price head towards providing more of the bearish bias in the upcoming sessions, in its way to visit 62.92 level initially.

Crude oil price opened today’s trading with a big bullish gap that put the price above 62.00$ barrier, affected by Aramco assaults and the Saudi oil production collaps to 50%, but we notice that the price is trading with a clear negativity since the opening as a signal for the price head to the natural bearish track, in its way to test 57.42 level initially, pointing that breaking this level will confirm the continuation of the decline towards 54.60 as a next negative station.