The NZD/USD currency pair experienced a bearish rebound after coming close to the 0.6020 level. It is currently trading around the 0.5960 level. Notably, the pair found solid support from the EMA50 (Exponential Moving Average 50), suggesting the potential for a resumption of positive price movement.
The outlook is for the pair to potentially continue its upward trajectory, with an initial target set at 0.6020. A successful breach of this level could propel the price higher towards 0.6085 and subsequently 0.6140.
It is crucial to be aware that a break below the 0.5900 level could disrupt the positive scenario and prompt a shift towards a decline.
For today’s trading outlook, the expected range lies between the support at 0.5920 and the resistance at 0.6010.
The prevailing trend for today is anticipated to be bullish.