The NZDUSD pair succeeded to break 0.7187 level and attempts to settle below it, which supports the continuation of our bearish overview efficiently in the upcoming period, as the price falls under the negative effect of the head and shoulders’ pattern that appears on chart, which its targets extend to surpass 0.7100 and reach 0.6990.
Therefore, the bearish trend will remain dominant on the intraday and short term basis unless breaching 0.7275 and holding above it.
Expected trading range for today is between 0.7060 support and 0.7250
Expected trend for today: Bearish
Origin: Economies
