The NZDUSD pair attempted to break 0.6227 but it couldn’t manage to hold below it, to provide positive trades and attempt to return to the bullish channel, but it faced solid resistance formed at the broken support of this channel, to face contradiction between the technical factors that makes us prefer to stay aside until we get clearer signal for the next trend.
Note that breaking 0.6227 support will push the price to achieve more bearish correction and head towards 0.6140 as a next negative target, while breaching 0.6280 resistance represents the key to return to the bullish track and achieve gains that start by visiting the recently recorded high at 0.6368.
The expected trading range for today is between 0.6180 support and 0.6290 resistance
The expected trend for today: Neutral
Origin: Economies
