The NZDUSD pair is trading within intraday bullish channel that appears on the chart, which we believe that it forms bearish flag pattern, thus, the price needs to break 0.6235 to activate the negative effect of this pattern followed by resuming the expected bearish trend for the upcoming period, which its next target located at 0.6140.
The EMA50 and stochastic provide negative signals that support the continuation of the expected decline, which will remain valid unless breaching 0.6290 and holding above it.
The expected trading range for today is between 0.6180 support and 0.6300 resistance
The expected trend for today: Bearish
Origin: Economies
