The NZDUSD pair declines sharply after the RBNZ rate decision, to surpass our first target at 0.6200 and open the way to head towards the next waited negative station at 0.6140, and we believe that the way is open to break the last level and achieve additional negative targets that reach 0.6080 followed by 0.6020 on the near term basis.
Therefore, the bearish trend will remain suggested in the upcoming sessions, supported by the negative pressure formed by the EMA50, taking into consideration that the consolidation of 0.6140 level against the current negative pressure will push the price to attempt to recover and achieve gains that reach 0.6290 before any new attempt to decline.
The expected trading range for today is between 0.6100 support and 0.6215 resistance
The expected trend for today: Bearish
Origin: Economies
