The NZDUSD price continued to rise to test the main bearish channel’s resistance line, waiting to start bearish wave and resume the main bearish track in the upcoming sessions, to head towards achieving negative targets that start at 0.5540$ and extend to 0.5450$.

The continuation of the bearish wave requires holding below 0.5630$, as breaching it represents the key to start bullish correction that targets 0.5740$ areas on the near-term basis.

The expected trading range for today is between 0.5550$ support and 0.5650$ resistance

Trend forecast: Bearish

The AUDUSD price managed to touch the main bearish channel’s resistance line, and begins to rebound bearishly to attempt to build bearish wave on the intraday and short-term basis, on its way to achieve negative targets that start at 0.6140$ and extend to 0.6075$.

Note that breaking 0.6200$ will complete forming bearish flag pattern that reinforce the expectations to decline in the upcoming period, while breaching 0.6245$ will stop the bearish trend and lead the price to start bullish correction on the intraday and short-term basis.

The expected trading range for today is between 0.6160$ support and 0.6260$ resistance

Trend forecast: Bearish

Brent oil price rallied upwards strongly after breaching the bullish flag’s resistance line mentioned in our last technical update to surpass the suggested positive target at 81.90$ and open the way to achieve more gains on the intraday and short-term basis, noting that the next positive targets start at 83.20$ and extend to 84.50$.

The EMA50 supports the suggested bullish wave, noting that breaking 81.90$ might push the price to test 80.45$ areas before any new attempt to rise.

The expected trading range for today is between 81.20$ support and 84.20$ resistance.

Trend forecast: Bullish

Read more: Crude oil begins 2025 with a stunning start... These are the reasons behind it

Crude oil price continued to rise yesterday to surpass the positive target mentioned in our last technical update at 80.00$, to confirm the continuation of the bullish trend domination in the upcoming period, organized inside the bullish channel that its next target located at 81.80$.

Therefore, we are waiting to witness more rise on the intraday and short-term basis, noting that breaking 78.25$ will stop the bullish wave and push the price to start bearish correction on the intraday basis.

The expected trading range for today is between 79.00$ support and 82.00$ resistance

Trend forecast: Bullish

Read more: Crude oil begins 2025 with a stunning start... These are the reasons behind it