The NZDUSD pair returns to fluctuate near 23.6% Fibonacci level for the rise measured from 0.6674 to 0.7145, and the price needs more positive momentum to reinforce the chances of resuming the main bullish trend that moves organized inside the bullish channel that appears on chart.
Therefore, the bullish trend scenario will remain valid and active for the upcoming period, supported by the EMA50 that keeps carrying the price from below, waiting to head towards 0.7285 mainly, noting that breaking 0.7034 will stop the expected bullish bias temporarily to push the price towards 0.6965 before any new attempt to rise.
Expected trading range for today is between 0.6965 support and 0.7200
Expected trend for today: Bullish
Origin: Economies
