The NZDUSD pair traded with strong negativity yesterday to achieve our first waited target at 0.6070 and settles below it, noticing that the price completed forming head and shoulders’ pattern that appears on the chart, which supports he chances of continuing the bearish bias in the upcoming sessions to achieve additional negative targets that start at 0.6000 and extend to 0.5915.
Therefore, the bearish trend will remain suggested on the intraday basis, taking into consideration that breaching 0.6070 might push the price to achieve intraday gains and test 0.6140 before any new attempt to decline.
The expected trading range for today is between 0.6010 support and 0.6110 resistance
The expected trend for today: Bearish
Origin: Economies
