The NZDUSD pair faced strong negative pressure yesterday to reach the key support 0.5900, showing additional negative trades by today’s open to hint the attempt to break this level and turn to decline, which makes us stay aside until the price confirms its situation according to this level followed by detecting its next destination clearly.
Note that breaking the mentioned support will push the price to continue the decline and head towards 0.5700 as a next negative target, while consolidating above it will puh the price to recover and visit 0.6020 mainly.
The expected trading range for today is between 0.5850 support and 0.5970 resistance
The expected trend for today: Neutral
Origin: Economies