The NZDUSD pair bounced bullishly after testing 0.6200 barrier yesterday, to fluctuate around 0.6450 level, noticing that stochastic shows clear overbought signals now, which forms negative motive that we expect to assist to push the price to resume the bearish wave that targets 0.6140 level as a next station.
Therefore, we will continue to suggest the bearish trend for the upcoming period, noting that breaching 0.6290 will stop the expected decline and lead the price to turn to rise.
The expected trading range for today is between 0.6180 support and 0.6285 resistance
The expected trend for today: Bearish
Origin: Economies
