The NZDUSD pair bounced downawds strongly yesterday to reach the key support 0.7000, which makes us prefer staying aside until the price confirms its situation according to this level, noting that the contradiction between stochastic positivity and the EMA50 negativity provides another reason to the neutrality.
Note that breaking the mentioned support will press on the price to achieve additional decline that reaches 0.6900 initially, while consolidating above it will lead the price to resume the bullish trend that its first target located at 0.7165.
The expected trading range for today is between 0.6950 support and 0.7070 resistance
The expected trend for today: Neutral
Origin: Economies
