The NZDUSD price hovers around the EMA50, noticing that the price lost its positive momentum on the intraday time frames, waiting to rebound bearishly to resume the main bearish trend within the bearish channel that appears on the chart, noting that the next main target reaches 0.5450$.

Holding below 0.5640$ is important to the continuation of the expected decline, as breaching it will lead the price to start bullish correction for the bearish wave that started from 0.6378$ areas.

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

Trend forecast: Overall bearish

The AUDUSD price fluctuates at the EMA50 that forms good resistance against the price, waiting to surpass this barrier at 0.6195$ to confirm the continuation of the rise and test the bearish channel’s resistance line around 0.6255$, to continue suggesting the bullish trend for today, noting that breaking 0.6180$ will stop the bearish wave and lead the price to resume the main bearish trend again.

The expected trading range for today is between 0.6150$ support and 0.6250$ resistance

Trend forecast: Bullish temporarily

Brent oil price continued to decline to break 80.55$ and settle below it, to start bearish correction for the rise measured from 71.23$ to 81.90$, on its way to test 79.40$ initially, noting that breaking this level will extend the bearish wave to reach 77.83$ as a next negative station.

The continuation of the bearish wave depends on the price stability below 81.00$, as breaching this level represents the key to return to the bullish track and stop the current bearish correction.

The expected trading range for today is between 78.40$ support and 81.40$ resistance.

Trend forecast: Bearish

Crude oil price faced negative pressure to break 78.25$ level and settle below it, and by taking a deeper look at the chart, we find that the price is forming head and shoulders’ pattern that its confirmation line located at 77.45$, which means that breaking this level will push the price to continue the decline and achieve negative targets that reach 75.60$.

Therefore, the bearish bias will be suggested for today, noting that breaching 78.25$ followed by 78.80$ levels will stop the negative scenario and lead the price to resume the main bullish track again.

The expected trading range for today is between 76.00$ support and 79.00$ resistance

Trend forecast: Bearish