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The NZD/USD consolidates above the support – Analysis — 18/05/2021

The NZDUSD pair leaned on the intraday bullish channel’s support line that appears on the chart and bounced bullishly to trade with clear positivity, getting positive signals through stochastic, which leads the price to achieve more expected rise in the upcoming period, expecting to visit 0.7300 followed by 0.7390 levels as next main targets.

Therefore, we expect the continuation of the bullish trend on the intraday and short term basis unless breaking 0.7195 and holding below it.

The expected trading range for today is between 0.7195 support and 0.7300 resistance

The expected trend for today: Bullish

Origin: Economies


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