NZD/USD bounced lower after testing the level of 0.6860 yesterday, continuing its downward tilt in the intraday levels, waiting to test the level of 0.6680, which represents the support of an ascending broadening channel as shown in the attached chart, while noting that we’re waiting for an upside bound from the targeted areas according to trading rules inside the price channels.
Therefore, a breach of 0.6760 would lead the pair higher again in the short term, with targets at 0.7030, extending to 0.7240.
Expected trading range for today is between 0.6650 support and 0.6860
Expected trend for today: Temporarily bearish
Origin: Economies
