The NZDUSD under the negative pressure – Analysis - 17-09-2020

The NZDUSD pair bounced downwards clearly to attack the intraday bullish channel’s support line that appears on the chart, which we believe that it forms bearish flag pattern that will press on the price to achieve more expected decline in the upcoming sessions, on its way to visit 0.6600 followed by 0.6477 levels as next negative stations.

Therefore, the bearish bias will be expected for today, taking into consideration that consolidating above 0.6700 will stop the expected decline and lead the price to resume the main bullish trend again.

The expected trading range for today is between 0.6630 support and 0.6740

The expected trend for today: Bearish