The NZDUSD pair declined sharply this morning to touch the main bullish channel’s support and rebounds bullishly from there, which keeps trading organized inside the mentioned channel, which means that the price is on the way to build new bullish wave that targets visiting the channel’s resistance located at 0.7329.
Therefore, we suggest witnessing positive trading in the upcoming period, supported by stochastic positivity, and the price needs to breach 0.7095 level to ease the mission of achieving the above mentioned target, noting that holding above 0.6980 level represents key condition to continue the expected bullish trend.
Expected trading range for today is between 0.6980 support and 0.7329
Expected trend for today: Bullish
Origin: Economies
