The EURNZD pair formed correctional bullish rebound by reaching 1.6690, affected by stochastic positivity, noting that the price consolidation within the bearish channel and the stability of 1.6860 resistance confirm the continuation of the negativity for the upcoming period.
The price needs new negative momentum to manage to hold below 1.7605 level and force it to form new negative trades, to attempt to reach 1.6385 level followed by waiting to renew the pressure on 1.6050 level.
The expected trading range for today is between 1.6600 and 1.6400
The expected trend for today: Bearish