The NZDUSD pair made an initial test to the rising wedge’s support that appears on chart, located at 0.7235 now, as this level shows solidity against the price negative attempts, which might push the price for some temporary bullish bias in order to get enough positive momentum to push trading to break the mentioned level followed by activating the negative effect of this pattern.
Therefore, the overall bearish bias will be valid until now unless breaching 0.7329 level and holding above it, noting that the EMA50 supports the expected decline, which its main targets extend to reach 0.6955 after succeeding to break 0.7235 level.
Expected trading range for today is between 0.7170 support and 0.7329
Expected trend for today: Bearish
Origin: Economies
