The NZDUSD pair confirmed breaking 0.6780 level after ending yesterday’s trading below it, reinforcing the expectations of continuing the correctional bearish trend that started from the recently recorded top at 0.7052, waiting to test 0.6698 level that represents the next main target, reminding you that breaking this level will extend the bearish wave to reach 0.6614.
Therefore, our bearish overview will remain valid on the intraday and short term basis conditioned by holding below 0.6830 level, noting that the EMA50 forms negative pressure that supports the suggested decline.
Expected trading range for today is between 0.6600 support and 0.6830
Expected trend for today: Bearish
Origin: Economies
