The NZDUSD pair showed strong break to the bullish channel’s support that appears on chart, which opens the way to extend the bearish wave on the intraday and short term basis, as a bearish correction signs appear for the bullish wave measured from 0.6343 to 0.7052, and the way is open to target 0.6698 followed by 0.6614 levels that represents 50% and 61.8% Fibonacci levels consecutively.
Therefore, the bearish bias will be suggested for the upcoming sessions unless the price managed to breach 0.6785 level and hold with a daily close above it.
Expected trading range for today is between 0.6614 support and 0.6825
Expected trend for today: Bearish
Origin: Economies
