The NZD/USD resumes the decline – Analysis – 05/10/2021

nzd_2_newsThe NZDUSD pair resumes its negative trading after reaching 0.6990 areas, to keep the breaish trend scenario valid and active, waiting to test 0.6890 level initially, noting that breaking this level will extend the bearish wave to reach 0.6805.

The EMA50 supports the expected decline, which will remain valid conditioned by the price stability below 0.6990.

The expected trading range for today is between 0.6880 support and 0.6990 resistance

The expected trend for today: Overall bearish

Origin: Economies

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