The NZDUSD pair rallied upwards strongly to reach our new target at 0.6400, and fluctuates near it in attempt to get rid of the negative momentum that appears on the four hours’ time frame, waiting to resume the bullish wave that its next target located at 0.6467.
The EMA50 continues to support the price from below, which moves organized inside the bullish channel that appears on the chart, these factors support the continuation of the bullish trend on the intraday and short term basis, noting that it is important to hold above 0.6240 to achieve the waited targets.
The expected trading range for today is between 0.6320 support and 0.6450 resistance
The expected trend for today: Bullish