The NZDUSD pair traded positively on last Friday’s evening to approach from the previously broken support of the bullish channel that turns into resistance now at 0.7165, noticing that the price starts today with bearish bias affected by stochastic negativity, waiting to get enough positive momentum to push the price to breach the mentioned resistance followed by reinforcing the expectations of continuing the bullish trend on the intraday and short term basis.
Therefore, we will continue to suggest the bullish trend in the upcoming sessions conditioned by the price stability above 0.7049 level, reminding you that our main targets start at 0.7215 and extend to 0.7483.
Expected trading range for today is between 0.7049 support and 0.7215
Expected trend for today: Bullish
Origin: Economies
