The NZDUSD pair shows sideways trading since yesterday, settling below 0.7187 level, to keep the negative pressure valid on the intraday and short term basis, affected by the head and shoulders’ pattern that appears on the above chart, waiting to resume the bearish trend that targets 0.7100 followed by 0.6990 levels mainly.
In general, we will continue to suggest the bearish trend in the upcoming sessions conditioned by holding below 0.7275, as breaching this level will push the price to attempt to regain the main bullish trend again.
Expected trading range for today is between 0.7060 support and 0.7250
Expected trend for today: Bearish
Origin: Economies
