The NZDUSD loses momentum – Analysis - 08-12-2022
Economies.com
2022-12-08 04:31AM UTC
The NZDUSD pair approached the bullish channel’s support line that appears on the chart, noticing that stochastic overlaps negatively now, waiting to motivate the price to resume the negative trades and head towards 0.6315 as a first main target, which breaking it represents the key to head towards 0.6240 direct.
Holding below 0.6380 keeps the negative scenario active, as breaching it will lead the price to resume the bullish wave and head to test 0.6467 initially.
The expected trading range for today is between 0.6280 support and 0.6400 resistance
The expected trend for today: Bearish
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