The NZDUSD pair traded with strong negativity yesterday to confirm breaking 0.2628, starting today with additional decline to approach 38.2% Fibonacci correction level at 0.6140, and we expect to surpass this level to achieve additional bearish correction that its next target reaches 0.6070.
Therefore, the bearish bias will be suggested in the upcoming sessions, supported by the negative pressure formed by the EMA50, noting that breaching 0.6228 will stop the expected decline and lead the price to return to the main bullish track again.
The expected trading range for today is between 0.6100 support and 0.6200 resistance
The expected trend for today: Bearish
Origin: Economies
