The NZDUSD pair trades positively to retest the broken neckline of the head and shoulders’ pattern, waiting to rebound bearishly to resume the correctional bearish trend, which its targets begin by breaking 0.6275 to open the way to rally towards 0.6130.
Therefore, the bearish trend scenario will remain valid, noting that breaching 0.6340 will stop the expected decline and lead the price to regain the main bullish trend again.
The expected trading range for today is between 0.6260 support and 0.6385 resistance
The expected trend for today: Bearish
Origin: Economies
