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The NZDUSD tests the support base – Analysis - 20-05-2020
The NZDUSD pair ended yesterday at 0.6073 after breaching it in the previous sessions, facing negative pressure affected by stochastic negativity, and the price needs to consolidate above the mentioned level to confirm the continuation of the positive scenario mentioned in our last report, which targets 0.6216 as a next positive station.
On the other hand, we should note that failing to consolidate above 0.6073 and trading below it will put the price under negative pressure that its first target reaches 0.5958.
The expected trading range for today is between 0.6000 support and 0.6150
The expected trend for today: Bullish
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