The NZDUSD pair begins today positively to breach the bearish channel’s resistance and attempts to hold above it, to hint the attempt to recover and build intraday bullish wave, motivated by stochastic positivity, noticing that the EMA50 forms negative pressure that might push the price back to the bearish track.
Therefore, we prefer to stay aside until we get clearer signal for the next trend, noting that breaching 0.5835 will push the price to achieve more rise and test 0.5900 mainly, while breaking 0.5810 support represents the key to return to the main bearish trend and head towards 0.5750 followed by 0.5670 levels as main negative targets.
The expected trading range for today is between 0.5775 support and 0.5880 resistance
The expected trend for today: Neutral
Origin: Economies
