The NZDUSD pair begins the attempts to surpass the EMA50 that forms intraday resistance at 0.7160, as the price gets positive signal through stochastic now, which reinforce the continuation of the bullish bias in the upcoming sessions, waiting to test 0.7220 followed by 0.7329 levels initially, which represent potential obstacles that the price needs to breach them to confirm continuing the main bullish trend.
Therefore, we will continue to suggest the bullish trend on the intraday and short term basis conditioned by the price stability above 0.7080 level, noting that the main expected target of the bullish channel is located around 0.7650.
Expected trading range for today is between 0.7080 support and 0.7270
Expected trend for today: Bullish
Origin: Economies
