The NZDUSD price traded with strong negativity to touch our waited target at 0.5540$, noticing that the price faces more negative pressure to break this level and attempt to hold below it, to open the way to continue the decline on the intraday and short-term basis and return to the bearish channel that appears on the chart, noting that the next negative station reaches 0.5450$.
The continuation of the bearish wave requires holding below 0.5590$, as breaching it is considered as positive key that will push the price to recover and achieve bullish correction on the intraday basis.
The expected trading range for today is between 0.5460$ support and 0.5560$ resistance
Trend forecast: Bearish
Origin: Economies
