The NZD/USD pair hammered through the 0.6140 level and reversed lower towards a new downward correction in upcoming sessions, opening the door for more negative targets that start at 0.6020 and stretch to 0.5900 after bypassing the previous level.
The 50 SMA is pressuring the pair downwards and bolstering the suggested declining wave, which could carry on unless the 0.6140 was breached then settled above once again.
Expected trading range for today is between the 0.6000 support and the 0.6140 resistance.
Expected trend for today: Bearish
Origin: Economies
