The NZDUSD pair is currently trading with noticeable upward momentum, approaching a critical resistance level at $0.5870. To maintain the expected bearish trend for the day, the price needs to stay below this level. A breakout above $0.5870 would signal further upward movement, with the next target at $0.5935.
In the event of a continued decline, the initial bearish target is $0.5800, with further downside potential extending to $0.5740 if the price breaks below this support level.
The expected trading range for today is between the support at $0.5770 and resistance at $0.5870.
Trend Forecast: Bearish
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