The NZDUSD pair is retesting the previously broken support of the bullish channel that forms key resistance now at 0.7115, accompanied by stochastic losing its positive momentum clearly, forming negative factor that we expect to assist to push the price to decline in the upcoming period, to keep the bearish trend scenario suggested on the intraday and short term basis, reminding you that our next main target is located at 0.6821.
Note that breaching 0.7115 level and holding above it will push the price back to the main bullish trend, to begin the positive targets at 0.7329 and extend to 0.7700.
Expected trading range for today is between 0.7000 support and 0.7170
Expected trend for today: Bearish
Origin: Economies
