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Kiwi exposed to negative pressure - Analysis - 02-08-2023
The NZD/USD pair declined in recent intraday levels, trespassing the support of the 50-day SMA, in turn doubling negative pressures especially after piercing the upward secondary trend line in the short term, with negative signals from the RSI again after managing recently to vent off apparent oversold saturation there.
Therefore we expect more losses for the pair, targeting the support of 0.6050, provided the resistance of 0.6250 holds on.
Expected trading range for today is between the 0.6090 support and the 0.6180 resistance.
Expected trend for today: Bearish
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