The NZDUSD price traded with clear positivity to test the EMA50, and it might keep rising to test the main bearish channel’s resistance line before turning back to resume the main bearish trend again.
The RSI is losing the positive momentum clearly to support the chances of resuming the bearish wave, thus, we will continue to suggest the overall bearish trend within the mentioned channel, and the targets begin at 0.5450$ and extend to 0.5400$, noting that breaching 0.5650$ will stop the bearish trend and lead the price to start bullish correction on the intraday and short-term basis.
The expected trading range for today is between 0.5550$ support and 0.5650$ resistance
Trend forecast: Overall bearish
Origin: Economies
