The NZDUSD price traded with strong negativity yesterday to surpass the new waited target at 0.5670$ and settle below it, to open the way to continue the decline inside the bearish channel that appears on the chart, waiting to visit 0.5560$ as a next main target.
The EMA50 forms continuous negative pressure against the price to support the expectations of continuing the decline, noting that breaching 0.5675$ will push the price to achieve intraday gains and test the bearish channel’s resistance line around 0.5815$ before any new attempt to decline.
The expected trading range for today is between 0.5570 support and 0.568$ resistance
Trend forecast: Bearish
Origin: Economies
