The (NZDUSD) price declined in its last intraday trading, to gain a positive momentum that might assist it to recover and rise again, amid the continuation of the positive pressure that comes from its trading above its EMA50, trading alongside a minor bullish trend line on the short-term basis supports the continuation of the positive track, especially with the (RSI) reach to oversold levels, exaggeratedly compared to the price move, suggesting the beginning of forming a positive divergence.
Therefore, our expectations suggest a rise in the (NZDUSD) prices in the upcoming intraday trading, conditioned by its stability above 0.6035, to target its next resistance at 0.6075.
The expected trading range is between 0.6000 support and 0.6055 resistance.
Today’s forecast: Bullish
