The NZDUSD pair bounced downwards clearly to start pressing on the intraday bullish channel’s support line, which hints the price head to turn to decline on the intraday basis, on its way to visit 0.6477 level mainly.
Therefore, the bearish bias will be expected for today supported by the negative pressure formed by the EMA50, noting that the consolidation of 0.6575 level against the negative pressure and bouncing bullishly to breach 0.6624 will stop the expected decline and push the price to rise again.
The expected trading range for today is between 0.6500 support and 0.6620
The expected trend for today: Bearish