The NZDUSD pair is retesting the previously broken support of the rising wedge pattern that turns into resistance now at 0.7295, accompanied by stochastic entering the overbought areas, besides that the EMA50 meets the mentioned resistance to add more strength to it.
Therefore, these factors keep the bearish trend scenario valid and active for the upcoming period conditioned by the price stability below 0.7295 and 0.7329 levels, noting that the waited targets begin at 0.7100 and extend to 0.6985.
Expected trading range for today is between 0.7150 support and 0.7350
Expected trend for today: Bearish
Origin: Economies
