The NZDUSD currency pair has successfully breached the 0.5940 level, reinforcing the continuation of its bullish trend in the intraday perspective. The pair remains on track to target the 0.6020 level as the primary objective.
Although there is some current negativity in the Stochastic indicator, it may lead to minor sideways fluctuations before the expected resumption of the upward movement. It’s worth noting that a breach of the 0.5900 level would halt the bullish trend and potentially trigger a reversal towards a bearish stance.
The anticipated trading range for today is expected to be between the support level at 0.5910 and the resistance level at 0.6010.
In summary, the NZDUSD pair has confirmed its breach of the 0.5940 level, reaffirming its bullish momentum. However, traders should remain vigilant for potential shifts in market conditions, especially with regard to the key support level at 0.5900.