The NZDUSD breaks the support – Analysis - 26-03-2020

The NZDUSD pair broke 0.5842 level clearly by today’s opening and settles below it, which hints the price head to return to the main bearish track, but we notice that the price found solid support at the correctional bullish trend line, to push trades to attempt to return above the mentioned level.

Therefore, we prefer staying neutral until we get clearer signal for the next trend, which we will get through breaching 0.5842 resistance or breaking 0.5785 support, noting that breaching this resistance will push the price to rise again and heads towards 0.5958 as a next positive target, while breaking the support will press on the price to resume the main bearish trend that its targets begin at 0.5700.

The expected trading range for today is between 0.5730 support and 0.5950

The expected trend for today: Neutral