The NZDUSD pair ended yesterday’s trading below 0.6915 level, which activates the bearish trend scenario on the intraday basis, which targets testing 61.8% Fibonacci correction level at 0.6780 as a next main station.
Therefore, the bearish bias will remain suggested in the upcoming period supported by the negative pressure formed by the EMA50, noting that breaching 0.6915 will stop the expected decline and lead the price for recovery attempts that target 0.7049 mainly.
Expected trading range for today is between 0.6800 support and 0.7000
Expected trend for today: Bearish
Origin: Economies
