The NZDUSD pair bounced bearishly after testing 0.7300 level yesterday, as the price is affected by stochastic negativity that appears on the four hours’ time frame, noticing that stochastic attempts to get rid of this negativity and gain enough positive momentum to push the price to resume trading inside the main bullish channel that appears on chart.
In general, we will continue to suggest the bullish trend for today supported by the EMA50, conditioned by the price stability above 0.7205 level, waiting to visit 0.7400 level mainly, noting that breaking 0.7205 level will push the price to test 0.7060 areas before any new attempt to rise.
Expected trading range for today is between 0.7180 support and 0.7400
Expected trend for today: Bullish
Origin: Economies
