The NZDUSD price provided clear positive trades by today’s open to attack the bearish channel’s resistance line, affected by the RBNZ decision to cut the cash rate, but we expect to resume the main bearish trend within the mentioned channel to achieve negative targets that start at 0.5775$.
Therefore, the negative scenario will remain valid for the upcoming period unless the price rallied to breach 0.5915$ and hold above it.
The expected trading range for today is between 0.5800$ support and 0.5900$ resistance
Trend forecast: Bearish
Origin: Economies
