The NZDUSD pair failed to confirm breaching the key resistance 0.7323 after the positive attempts that the price showed by the end of last week, to rebound strongly to the downside and attack the main bullish channel’s support that appears on chart, as it trades below it now, hinting that the price will face more negative pressure in the upcoming period.
Therefore, we expect the domination of the bearish bias on the intraday and short term trading, to begin the negative targets at 0.7093, noting that bouncing bullishly and breaching 0.7323 level will stop the current negative pressure and lead the price to resume the main bullish trend again.
Expected trading range for today is between 0.7100 support and 0.7323
Expected trend for today: Bearish
Origin: Economies
