The NZDUSD pair surpassed the bullish channel’s support line and settled below it, to fall under expected negative pressure in the upcoming sessions, targeting 0.6140 level initially, noting that breaking this level will push the price to suffer additional losses that reach 0.6020 areas.
Therefore, the bearish trend will be expected for today, supported by the negative pressure formed by the EMA50, noting that breaching 0.6200 will stop the negative scenario and lead the price to recover and visit 0.6290 level initially.
The expected trading range for today is between 0.6120 support and 0.6225 resistance
The expected trend for today: Bearish
Origin: Economies
