The NZDUSD price hovers around the EMA50, noticing that the price lost its positive momentum on the intraday time frames, waiting to rebound bearishly to resume the main bearish trend within the bearish channel that appears on the chart, noting that the next main target reaches 0.5450$.
Holding below 0.5640$ is important to the continuation of the expected decline, as breaching it will lead the price to start bullish correction for the bearish wave that started from 0.6378$ areas.
The expected trading range for today is between 0.5550$ support and 0.5650$ resistance
Trend forecast: Overall bearish
Origin: Economies
