The NZDUSD price continues to fluctuate around the EMA50, keeping its consolidation below the bearish channel’s resistance line, thus, the bearish trend still valid for the upcoming period, waiting to get negative motive that assist to push the price to head towards our main targets that start at 0.5540$ and extend to 0.5450$.

 

On the other hand, we should note that breaching 0.5610$ will stop the bearish wave and push the price to start bullish correction on the intraday basis.

 

The expected trading range for today is between 0.5550$ support and 0.5650$ resistance

 

Trend forecast: Bearish