The NZDUSD currency pair has achieved a noteworthy milestone by successfully breaching the resistance of the bearish channel. This breakthrough, complemented by its ability to maintain a position above this threshold, amplifies the prospects for a sustained intraday bullish trajectory. This trajectory sets the stage for an anticipated ascent towards the 0.6020 mark.
It is relevant to acknowledge that the present negative stance of the stochastic oscillator might induce temporary lateral undulations before the resumption of the overarching bullish bias. It is of significance to underscore that the continuity of the bullish wave rests upon the condition of price stability above 0.5900.
The projected trading parameters for the current day span between the support at 0.5900 and the resistance at 0.6010.
Today’s envisaged trend aligns favorably with a bullish orientation.