The NZDUSD price’s rise stopped around 0.6100$ barrier, to rebound bearishly and start to attack 0.6070$ level, which pushes the price to turn to decline and head to achieve negative targets that reach 0.6000$.
Therefore, we expect to witness more decline in the upcoming sessions, supported by the negative pressure formed by the EMA50, taking into consideration that failing to confirm breaking 0.6070$ will lead the price to start new recovery attempts on the intraday basis.
The expected trading range for today is between 0.6015$ support and 0.6110$ resistance
Trend forecast: Bearish
Origin: Economies
