The NZDUSD pair continued its negative trading to surpass 0.7329 level and the EMA50, which provides negative signals that the price is on its way to achieve more decline in the upcoming sessions, especially in case the price completed drawing the rising wedge pattern that its signs appear on chart, which its support line located at 0.7225.
Therefore, we suggest the domination of the negative pressure on the pair’s upcoming trading, noting that breaking 0.7225 level will confirm extending the bearish wave to reach 0.6950 areas as next main station, while the bearish bias will remain valid unless the price managed to breach 0.7490 level and hold above it.
Expected trading range for today is between 0.7180 support and 0.7400
Expected trend for today: Bearish
Origin: Economies
