The NZDUSD pair settles below 0.7220 level, to keep the negative effect of the head and shoulders’ pattern active, which pushes the price to continue the decline on the intraday and short term basis, waiting to head towards 0.7015 level in the upcoming period.
Therefore, the bearish trend will remain suggested for today unless breaching 0.7220 and the most important 0.7329 and holding above them.
Expected trading range for today is between 0.7050 support and 0.7255
Expected trend for today: Bearish
Origin: Economies
