The NZDUSD pair faced solid resistance formed by the EMA50 against the bullish wave, to rebound bearishly and head towards resuming the correctional bearish track, as it approached 0.6020 level now, noting that breaking this level will open the way to head towards 0.5900 areas on the near term basis.
Therefore, we expect to witness more decline in the upcoming sessions, noting that breaching 0.6140 will stop the bearish trend and push the price to turn to rise.
The expected trading range for today is between 0.5995 support and 0.6100 resistance
The expected trend for today: Bearish
Origin: Economies
