The NZDUSD pair shows some bullish bias by today’s open after approaching the waited target at 0.6020, affected by stochastic positivity, while the EMA50 forms continuous negative pressure against the price, to support the chances of resuming the bearish trend that its targets extend to 0.5950 followed by 0.5900.
Until now, the bearish trend scenario still valid as long as 0.6140 level remains intact, as breaching this level represents the first key to attempt to regain the main bullish trend again.
The expected trading range for today is between 0.6020 support and 0.6120 resistance
The expected trend for today: Bearish
Origin: Economies
