The NZDUSD pair opens today’s trading with clear rise, affected by the ANZ business confidence data, to approach testing the main bearish channel’s resistance at 0.6710, noticing that stochastic approaches the overbought areas.
Therefore, we believe that the chances are valid to rebound bearishly and resume the main bearish trend unless breaching 0.6710 level and holding above it, reminding you that breaking 0.6610 will confirm rallying towards our waited targets at 0.6500 followed by 0.6400.
Expected trading range for today is betwenen 0.6600 support and 0.6720
Expected trend for today: Bearish
Origin: Economies