The NZDUSD pair continued its positive trading with today’s opening, to touch the minor bullish channel’s resistance that appears on the minor image, and as we mentioned yesterday, this channel represents a bearish flag pattern that we are waiting to support the expectations of continuing the overall bearish trend, which its next target is located at 0.6395.
Therefore, we will keep our expectations of the bearish trend in the upcoming period supported by stochastic reach to the overbought levels beside the negative pressure offered by the EMA50, reminding you that breaching 0.6820 level will stop the negative overview and push the price to turn its short term track to the upside.
Expected trading range for today is between 0.6500 support and 0.6800 resistance.
Expected trend for today: Bearish