The NZDUSD pair retested the previously broken support of the bullish channel that turns into resistance now at 0.6825, and as long as the price is below this level, our bearish expectations will remain valid for the upcoming period, and the price needs to break 0.6780 level to reinforce the chances of targeting 0.6698 level mainly.
The EMA50 pushes negatively on the price, while stochastic offers clear negative signals on the four hours’ time frame, thus, these factors reinforce the suggested bearish trend scenario, which its targets extend to reach 0.6614 after surpassing 0.6698 level.
Expected trading range for today is between 0.6650 support and 0.6885
Expected trend for today: Bearish
Origin: Economies
