The NZDUSD pair opens today with strong positivity to breach the bearish channel’s resistance, but we notice that the EMA50 forms negative pressure against the price, while stochastic loses its positive momentum clearly.
Therefore, these factors encourage us to continue suggesting the bearish trend for the upcoming period, which targets 0.6000 areas mainly, noting that the continuation of the bearish wave requires holding below 0.6135 and the most important below 0.6180.
The expected trading range for today is between 0.6040 support and 0.6150 resistance
The expected trend for today: Bearish
Origin: Economies
