NZDUSD reaches the resistance – Analysis - 22-10-2018

The NZDUSD pair managed to reach the thresholds of the bearish channel’s resistance that appears on the chart, accompanied by witnessing clear negative signals through stochastic, which supports the chances of bouncing bearishly to resume the bearish trend within the mentioned channel, making the bearish bias suggested in the upcoming sessions.

Therefore, we are waiting for negative trades that target 0.6500 followed by 0.6400 levels as next main stations, noting that breaching 0.6625 will stop the expected decline and lead the price to achieve more gains on the short term basis.

Expected trading range for today is betwenen 0.6520 support and 0.6650

Expected trend for today: Bearish