The NZDUSD pair continued its negative trading to manage to break 0.7338 level and hold below it, confirming the continuation of the bearish trend on the intraday basis, waiting to target 0.7285 followed by 0.7200 levels in the upcoming period.
Therefore, we are waiting for more decline today supported by the negative pressure formed by the EMA50, noting that breaching 0.7423 will stop the expected decline and lead the price to return to the main bullish trend again.
Expected trading range for today is between 0.7200 support and 0.7380
Expected trend for today: Bearish
Origin: Economies
