NZDUSD within sideways track – Analysis - 08-08-2018

The NZDUSD pair hovers around the main bearish channel’s resistance, falling under continuous negative pressure that comes by the EMA50, to keep the bearish trend scenario active until now, waiting to head towards our negative targets that begin at 0.6660 and extend to 0.6575.

We should note that breaching 0.6827 will stop the expected decline and push the price to turn to rise, to start the positive targets at 0.6913 and extend to 0.7000.

Expected trading range for today is betwenen 0.6660 support and 0.6820

Expected trend for today: Bearish