The NZDUSD pair begins to attack the minor bullish channel’s support that appears on chart, which hints that the price is on its way to achieve more decline in the upcoming sessions, and the target is testing the main bullish channel’s support at 0.7065.
Therefore, the bearish bias will be suggested for today supported by the EMA50, noting that the expected decline is temporary unless breaking 0.7065 level and holding below it, waiting to rebound bullishly to resume the bullish trend on the short term basis, which its main targets reach to 0.7415.
Expected trading range for today is between 0.7065 support and 0.7220
Expected trend for today: Bearish temporarily
Origin: Economies
