NZDUSD within tight track – Forecast – 22/08/2017

news_22_feb_nzd_usd_1The NZDUSD pair shows more sideways and tight trading to settle around 0.7330, which represents the neckline of the inverted head and shoulders’ pattern that appears on chart, waiting to confirm breaching this level to activate the positive effect of the mentioned pattern followed by pushing the price to resume the main bullish trend.

Therefore, we will continue to suggest the bullish trend in the upcoming sessions, which targets 0.7465 followed by 0.7558 levels mainly, noting that breaking 0.7275 will stop the expected rise and push the price to return to the correctional bearish track again.

Expected trading range for today is between 0.7250 support and 0.7420

Expected trend for today: Bullish

e2Origin: Economies

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