The NZDUSD pair ended yesterday’s trading above the main bullish channel’s support, but we notice that the EMA50 formed solid resistance barrier that stopped the price positive attempts, accompanied by witnessing clear negative signals through stochastic on the four hours’ time frame now.
Therefore, these factors encourage us to continue suggesting the bearish trend in the upcoming sessions, and the price needs to break 0.7230 level to confirm continuing the decline that its next target located at 0.7093, noting that breaching 0.7280 followed by 0.7323 levels will stop the negative possibility and lead the price to regain the main bullish trend.
Expected trading range for today is between 0.7100 support and 0.7323
Expected trend for today: Bearish
Origin: Economies
