The NZDUSD pair traded with strong negativity yesterday to resume the bearish track suggested in our recent reports, which depends on the stability below 0.7329 level, as the price completed forming the head and shoulders’ pattern after breaking 0.7220 level, which puts the price under more negative pressure that reinforces the chances of continuing the decline in the upcoming sessions.
Therefore, we are waiting for more negative trading that targets 0.7100 followed by 0.7000 levels mainly, supported by the negative pressure provided by the EMA50.
Expected trading range for today is between 0.7050 support and 0.7260
Expected trend for today: Bearish
Origin: Economies
