The NZDUSD pair faced negative pressure to break 0.5900 and attempts to hold below it, and by taking a deeper look at the chart, we find that the price completed forming bearish flag pattern represented by the minor bullish channel that appears on the chart, which puts the price under expected negative pressure in the upcoming sessions, to head towards visiting 0.5800 followed by 0.5750 levels as next main targets.
Therefore, we expect to witness negative trades on the intraday basis, unless breaching 0.5900 and holding above it again.
The expected trading range for today is between 0.5835 support and 0.5935 resistance
The expected trend for today: Bearish
Origin: Economies
