The NZDUSD pair shows bullish bias now to attempt to surpass 0.5900 level, but we notice that the EMA50 forms negative pressure against the price, which might push the price to decline again.
Therefore, the contradiction between the technical factors makes us prefer to stay aside until we get clearer signal for the next trend, noting that the continuation of the rise and breaching 0.5925 will push the price to achieve additional gains that reach 0.6020, while trading below 0.5900 again will push the price to resume the bearish track that its targets begin at 0.5820 and extend to 0.5750.
The expected trading range for today is between 0.5850 support and 0.5970 resistance
The expected trend for today: Neutral
Origin: Economies
