The EMA50 continues to form solid barrier against the NZDUSD pair, which keeps the negative pressure valid on the intraday and short term basis, supported by stochastic negativity that appears clearly on the four hours’ time frame.
Therefore, we are waiting for negative trading in the upcoming sessions, reminding you that breaking 0.7220 level will provide strong negative motive that supports the chances of heading towards our extended target that reach to 0.6995, noting that holding below 0.7329 level represents the most important condition to continue the suggested decline.
Expected trading range for today is between 0.7100 support and 0.7329
Expected trend for today: Bearish
Origin: Economies.com
