The NZDUSD pair opened today’s trading with strong negativity, as it completed forming the head and shoulders’ pattern to surpass our first waited target at 0.6140 and approaches the second expected target at 0.6070, and the way seems open to continue the decline to achieve additional negative targets in the upcoming period, to reach 0.6000 after surpassing the previous level.
Therefore, we will continue to suggest the bearish trend for the upcoming period, noting that breaching 0.6140 will stop the current negative pressure and led the price to start recovery attempts on the intraday basis.
The expected trading range for today is between 0.6040 support and 0.6150 resistance
The expected trend for today: Bearish
Origin: Economies
