The NZDUSD pair managed to close the daily candlestick below the main bullish channel’s support that appears on chart, which supports the continuation of the recently suggested bearish trend scenario, waiting to head towards 0.7093 as a next main target.
Stochastic current positivity pushes the price to provide some temporary bullish bias and fluctuate around the channel’s support, noticing that the EMA50 forms negative pressure against the intraday trading, to support the chances of continuing the expected decline, which will remain valid unless the price achieved clear breach to 0.7270 then 0.7323 levels and hold above them.
Expected trading range for today is between 0.7100 support and 0.7323
Expected trend for today: Bearish
Origin: Economies
