The NZDUSD pair’s recent trading is confined inside symmetrical triangle that appears on chart, thus, the price needs to breach one of its lines represented by 0.7215 support and 0.7270 resistance to confirm its next destination clearly, which makes us continue with our neutrality until now.
The contradiction between the EMA50 positivity and stochastic negativity still valid, noting that breaching 0.7270 will motivate the price to regain the main bullish trend that its targets begin at 0.7329 and extend to 0.7484, while breaking 0.7215 will push the price to target 0.7049 areas before any new attempt to rise.
Expected trading range for today is between 0.7170 support and 0.7350
Expected trend for today: Depends on the above mentioned levels
Origin: Economies
