The NZDUSD tests the moving average – Analysis - 14-09-2020
Economies.com
2020-09-14 03:53AM UTC
The NZDUSD pair moves above the minor bearish channel’s resistance, to test the EMA50 that forms negative pressure against the price, noticing that stochastic loses the positive momentum gradually, waiting to motivate the price to continue the expected bearish trend for the upcoming period, which targets 0.6475 level as a next main station.
On the other hand, we should note that breaching 0.6710 will stop the expected decline and leads the price to resume the main bullish trend again.
The expected trading range for today is between 0.6620 support and 0.6710
The expected trend for today: Bearish
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