The NZDUSD pair traded with clear positivity after leaning on 0.6140 level that formed solid support against the price, affected by the falling wedge that its signs appear on the chart, but we notice that stochastic shows clear overbought signals now, besides the EMA50 that forms negative pressure against the price.
Therefore, the contradiction between the technical indicators makes us prefer to stay aside until we get clearer signal for the next trend, noting that the continuation of the rise and breaching 0.6195 will lead the price to achieve additional gains that reach 0.6290, while breaking 0.6140 support represents the key to resume the correctional bearish trend and head towards 0.6020 areas as a next main station.
The expected trading range for today is between 0.6090 support and 0.6230 resistance
The expected trend for today: Neutral
Origin: Economies
