NZDUSD targets the channel’s support – Analysis – 06/04/2016

nzd_2_newsThe NZDUSD pair keeps its stability below 0.6860, which keeps the negative pressure valid and suggested for the upcoming period, and we are still waiting to test the bullish channel’s support located at 0.6675.

Therefore, our bearish overview will remain valid and active on the intraday basis, supported by stochastic negativity that appears on the daily time frame, reminding you that the expected decline is temporary according to the trading rules inside the price channels, waiting to rebound bullishly after touching the mentioned support to resume the short term bullish trend.

Expected trading range for today is between 0.6675 support and 0.6900

Expected trend for today: Temporarily bearish

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Origin: Economies

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