The NZDUSD pair resumed its negative trading to start testing the psychological barrier at 0.7000, reinforcing our expectations of the continuing the bearish trend in the upcoming period, waiting for more bearish bias to target 0.6821 areas mainly.
The EMA50 keeps supporting the bearish wave by pushing negatively on the price, to continue suggesting the decline on the intraday and short term basis, noting that holding below 0.7120 level represents key condition to achieve the waited targets.
Expected trading range for today is between 0.6900 support and 0.7120
Expected trend for today: Bearish
Origin: Economies
