The NZDUSD pair showed clear break to 0.7245 level and settled below it, which cancels the effect of the double bottom pattern mentioned in our last report, but we notice that the decline stopped at the minor bullish channel’s support that its signs appear on chart, accompanied by witnessing clear positive signals through stochastic on the four hours’ time frame.
Therefore, these factors encourage us to continue suggesting the overall bullish trend in the upcoming period, and the main targets begin at 0.7329 and extend to reach 0.7700, taking into consideration that breaking 0.7180 followed by 0.7105 levels will stop the main positive scenario and push the price to turn its short term and medium term track to the downside.
Expected trading range for today is between 0.7105 support and 0.7329
Expected trend for today: Bullish
Origin: Economies
