The NZDUSD pair continued to decline to break 0.7150 and settles below it, which forms 23.6% Fibonacci correction level for the rise from 0.6613 to 0.7315, besides forming the neckline of the double top pattern that appears on the chart, thus, we believe that the way is open to achieve more beaish correction in the upcoming sessions, targeting 0.7047 as a next station.
Therefore, we expect witnessing more decline on the intraday and short term basis, noting that breaching 0.7150 followed by 0.7220 levels will stop the expected negative pressure and lead the price to regain the main bullish trend again.
The expected trading range for today is between 0.7050 support and 0.7200
The expected trend for today: Bearish