The NZD/USD faces negative pressure – Analysis – 10/08/2020

com-l7The NZDUSD pair traded with clear negativity in the previous sessions to approach the main bullish channel’s support line that appears on the chart, accompanied by witnessing clear positive signals through stochastic, which forms positive motive that we expect to push the price to rise again.

Therefore, we expect the continuation of the overall bullish trend in the upcoming sessions, and the targets begin at 0.6680 and extend to 0.6750, noting that breaking 0.6570 will stop the expected rise and press on the price to start bearish correction on the intraday basis.

The expected trading range for today is between 0.6550 support and 0.6680

The expected trend for today: Bullish

Origin: Economies

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