The NZDUSD price continues to trade within a bearish flag pattern, with a key support level at 0.5630. A break below this support would activate the negative implications of this pattern, potentially leading to further declines within the broader bearish channel. The next support targets are 0.5560, followed by 0.5500.
We maintain a bearish outlook for the short term, unless the price breaches the resistance at 0.5665 and remains above it.
Expected Trading Range: Support at 0.5590, Resistance at 0.5680.
Trend Forecast: Bearish
Related topics: