The NZDUSD pair continued its negative trading to approach from testing the main bullish channel’s support that rises now to 0.7170, forming the first protecting factor to the continuation of the expected bullish trend scenario on the short term basis, accompanied by stochastic reach to the oversold areas, besides that the EMA50 meets the mentioned support to add more strength to this level.
Therefore, we believe that the chances are valid to trade positively in the upcoming sessions, waiting to target areas that begin at 0.7323 and extend to 0.7515 after breaching the previous level, noting that the continuation of the suggested bullish wave depends on the price stability above 0.7170 and the most important above 0.7090 levels.
Expected trading range for today is between 0.7140 support and 0.7323
Expected trend for today: Bullish
Origin: Economies
