By: Investija
NZD/USD was locked between resistance at 0.7072 and support at 0.7029 price level. However, narrow trading range between support and resistance is broken by bears side at support barrier, bears did manage to plunge below support level at 0.7029.
Long term trend remains negative, in order for bears to get more confidence they need to slide below 0.7000 price level.
At the moment bears have strong potential to reach previous lows at 0.6968. At this point bears can face stronger bulls strength, but for now short term selling opportunities are valid below 0.7029 support barrier.
