The NZDUSD pair is currently engaged in a favorable trajectory, ushering itself away from the 0.5900 level. This movement is underscored by its proactive approach towards testing the resistance encompassing the bearish channel depicted in the chart. Should the pair succeed in breaching this resistance threshold, it would substantiate the prospect of unimpeded advancement, effectively paving the path to sustain the upward trajectory towards our targeted levels commencing at 0.5955 and followed by 0.6020.
In light of this, the viability and vigor of the bullish trend narrative remain entrenched. It is pertinent to acknowledge, however, that the scenario shifts in the event of a breach below 0.5900. Such an outcome would halt the bullish momentum, potentially inducing a reversal towards the downside.
The envisaged trading bandwidth for today spans between the support level at 0.5880 and the resistance at 0.5980.
The prevalent trend for today aligns resolutely with a bullish orientation.