The NZDUSD pair provided positive trading in the past sessions to test the correctional bearish channel’s resistance that appears on chart, noticing that stochastic loses its positive momentum clearly to reach the overbought areas’ thresholds, to provide negative factor that we expect to push the price to resume the bearish bias in the upcoming sessions.
Therefore, the bearish trend will remain expected on the intraday basis unless the price managed to breach 0.7338 level and hold above it, noting that the next main target is located at 0.7200.
Expected trading range for today is between 0.7200 support and 0.7380
Expected trend for today: Bearish
Origin: Economies
