The NZDUSD price bounced bearishly after the EMA50 formed solid resistance barrier against the price, to break the minor bullish channel’s support line that appears on the chart and gets negative motive that we expect to push the price to decline today, on its way to achieve negative targets that start at 0.5550$ and extend to 0.5460$ after breaking the previous level.
Therefore, the bearish trend will remain suggested for today unless breaching 0.5665$ and holding above it.
The expected trading range for today is between 0.5580$ support and 0.5680$ resistance
Trend forecast: Bearish
Origin: Economies