The NZDUSD pair could not manage to hold for long time above 0.7145 level, to end yesterday’s trading below it, which shows the price need for enough positive momentum to push trading to continue the main bullish trend, which moves organized inside the bullish channel that appears on chart.
Stochastic heads towards the oversold areas to provide the required positive momentum, accompanied by the positive support provided by the EMA50 to the price, thus, the bullish trend scenario will remain valid on the intraday and short term basis, conditioned by the price stability above 0.7034 and the most important above 0.6965, reminding you that our next target is located at 0.7300.
Expected trading range for today is between 0.7034 support and 0.7250
Expected trend for today: Bullish
Origin: Economies
