The NZDUSD pair rallied upwards strongly by today’s open to breach 0.5830 and reach 0.5900 areas, to hint the attempt to turn to rise, but it faces solid resistance besides clear loss to the positive momentum, which makes us prefer to stay aside until we get clearer signal for the next trend.
Note that the continuation of the rise and breaching 0.5900 resistance will push the price to achieve additional gains that start at 0.5960 and extend to 0.6020, while breaking 0.5855 support represents negative factor that will push the price to resume the bearish track again.
The expected trading range for today is between 0.5835 support and 0.5950 resistance
The expected trend for today: Neutral
Origin: Economies
