The NZDUSD faces negative pressure – Analysis - 22-03-2019

The NZDUSD pair provided clear negative trades yesterday to break 0.6910 level, but it finds solid support base formed by the previously breached resistance of the symmetrical triangle pattern that appears on the chart, noticing that the EMA50 attempts to protect the price from suffering more losses, while stochastic shows oversold signals now.

Therefore, these factors encourage us to suggest the bullish bias in the upcoming sessions, and the price needs to breach 0.6910 level again to confirm heading towards 0.7024 that represents our next main target, taking into consideration that confirming breaking 0.6875 will stop the expected rise and put the price under more negative pressure.

The expected trading range for today is betwenen 0.6830 support and 0.6960

The expected trend for today: Bullish