The NZD/USD pair bounced bullishly to test the bearish channel’s resistance that appears on the chart, and the EMA50 meets this resistance to add more strength to it, accompanied by stochastic loss to the positive momentum clearly, which supports the chances of resuming the expected bearish wave on the intraday and short-term basis.

Therefore, we expect to witness negative trades in the upcoming sessions, which targets 0.5750 followed by 0.5670 levels as next main stations, taking into consideration that breaching 0.5830 will push the price to achieve additional gains that reach 0.5900 before any new negative attempt. The expected trading range for today is between 0.5760 support and 0.5850 resistance

Отредактировано Toplu (2023-10-27 21:58:01)