The NZDUSD pair managed to confirm the return to the main bullish channel after the strong bullish rally mentioned on last Friday, which reinforce our expectations of continuing the bullish trend on the short term and medium term basis, waiting to resume the bullish bias that targets the previously recorded top at 0.7323 as a next main station.
Stochastic current negativity might push the price to provide some temporary sideways trading before the return to rise, which gets continuous support by the EMA50, noting that holding above 0.7090 level represents key condition to the continuation of the bullish momentum in the upcoming period.
Expected trading range for today is between 0.7100 support and 0.7323
Expected trend for today: Bullish
Origin: Economies
