The NZDUSD price traded negatively by today’s open to complete forming rising wedge pattern that its signs appear on the chart, to fall under expected negative pressure in the upcoming sessions and head towards achieving decline that targets visiting the recently recorded low at 0.5540$ mainly.

Therefore, the bearish bias will be suggested for today, and breaking 0.5650$ will ease the mission of achieving the expected decline, while breaching 0.5738$ will stop the bearish wave and push the price to achieve more gains on the intraday and short-term basis.

The expected trading range for today is between 0.5605$ support and 0.5705$ resistance

Trend forecast: Bearish

The AUDUSD price traded negatively to break the intraday bullish channel’s support line that appears on the chart, which forms bearish flag pattern that puts the price under expected negative pressure on the intraday basis, to head towards achieving negative targets that start by visiting 0.6165$ followed by 0.6130$ levels.

Therefore, the bearish bias will be suggested for today, noting that breaching 0.6322$ will stop the expected decline and lead the price to achieve additional bullish correction that its next target reaches 0.6440$ areas.

The expected trading range for today is between 0.6200$ support and 0.6300$ resistance

Trend forecast: Bearish

Brent oil price declined strongly yesterday to succeed achieving our waited target at 77.05$, noticing that the price found solid support there to show some slight bullish bias now, waiting to get negative motive that push the price to confirm breaking this level and open the way to visit 61.8% Fibonacci correction level at 75.66$.

On the other hand, we should note that the consolidation of 77.05$ level against the negative attempts will lead the price to build intraday bullish wave that targets testing 78.40$ areas before determining the next trend clearly.

The expected trading range for today is between 75.60$ support and 78.60$ resistance.

Trend forecast: Bearish

Crude oil price attempted to break 73.90$ level, to hint heading to achieve more bearish correction, as we expect to visit 72.30$ as a next negative target.

Therefore, we will continue to suggest the bearish trend for the upcoming period, affected by the head and shoulders’ pattern that appears on the chart, taking into consideration that failing to confirm breaking 73.90$ will lead the price to start recovery attempts and head to test 75.53$ before any new attempt to decline.

The expected trading range for today is between 72.40$ support and 75.40$ resistance

Trend forecast: Bearish