The NZDUSD pair surpassed 0.6615 level and settled above it, but we notice that the EMA50 forms solid resistance barrier against the price, accompanied by witnessing clear negative signals through stochastic, thus, we believe that the chances valid to resume the negative trades and resume the main bearish trend again.
The price needs to break 0.6615 to reinforce the chances of continuing the decline and head towards 0.6530 as a first main target, noting that breaching 0.6665 will lead the price to achieve more bullish correction on the intraday basis.
The expected trading range for today is between 0.6570 support and 0.6665 resistance
The expected trend for today: Bearish
Origin: Economies
