The NZDUSD pair traded with clear negativity yesterday to approach from 0.7000 barrier, showing bullish rebound now on its way for new retest to the previously broken support of the bullish channel that turns into resistance now at 0.7120, accompanied by stochastic heading towards the overbought areas, while the EMA50 continues to form negative pressure against the price.
Therefore, these factors encourage us to continue suggesting the bearish trend in the upcoming sessions, and the main waited target is located at 0.6821, while achieving its conditions holding below 0.7120.
Expected trading range for today is between 0.6980 support and 0.7170
Expected trend for today: Bearish
Origin: Economies
