The NZDUSD pair found good support base formed at the breached resistnce of the bearish channel that appears on the chart, to trade positively and approaches the EMA50, noticing that stochastic lost its positive momentum to reach the overbought areas, which supports the chances of bouncing bearishly and resume yesterday’s suggested bearish trend.
The price needs to consolidate below 0.6625 to keep the negative scenario active for today, as breaching it will push the price to head towards 0.6705 as a next positive station, while the main target of the suggested bearish wave is located at 0.6477.
The expected trading range for today is between 0.6530 support and 0.6650
The expected trend for today: Bearish