The NZDUSD pair bounced lower yesterday to settle at the bullish trend line that appears in the image, accompanied by the rise of oversold signals now, which represents a positive factor that we expect to protect the price from suffering more losses, to keep the chances valid for resuming the expected bullish trend in the upcoming period, and its next main target at 0.6860.
Holding above 0.6635 level represents an important condition for the continuation of the suggested rise, where breaking this level will put the price under negative pressure that targets retesting the breached main bearish channel that turns into support now at 0.6395 before any new attempt to rise.
Expected trading range for today is between 0.6550 support and 0.6800
Expected trend for today: Bullish
Origin: Economies
