The NZDUSD pair faces negative pressure to surpass the EMA50 and reach the key support 0.5900, which urges caution from the upcoming trading, as breaking this level represents negative factor that will push the price to resume the bearish track that its next targets reach 0.5820 followed by 0.5750.
On the other hand, the consolidation of the mentioned support against the current negative pressure will push the price to recover again and head towards 0.6020 initially.
Now, we prefer to stay aside until the price confirms its situation according to 0.5900 level followed by determining the next destination clearly.
The expected trading range for today is between 0.5855 support and 0.5955 resistance
The expected trend for today: Neutral
Origin: Economies
