The NZDUSD pair surpassed the bearish channel’s resistance and settled above it, to start the attempts to retrace on the intraday basis, but we notice that the price is affected by the negative momentum to start today with clear decline, which urges caution from the upcoming trading to confirm the next destination clearly, to stay neutral temporarily.
Note that the continuation of the decline and breaking 0.5800 will push the price back to the main bearish track to head towards achieving negative targets that start at 0.5750 followed by 0.5700, while breaching 0.5845 resistance represents the key to continue the rise and visit 0.5900 initially.
The expected trading range for today is between 0.5775 support and 0.5880 resistance
The expected trend for today: Neutral
Origin: Economies
