Technical analysis of NZD/USD for Aug 09, 2018

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At the Daily Charts we see the NZD/USD pair moving in a Bearish bias. This can be confirmed by the price moving bellow the Moving Average 100 periods, now because the Stochastic Oscillator already at Oversoldlevel area there will be a correction to the upside in a few days ahead at least to test the Support becoming Resistance level at 0.6686 before this pair went back again to its previous trend (Bearish). (Disclaimer)The material has been provided by InstaForex Company - www.instaforex.com