The NZDUSD pair has reengaged in positive trading, successfully reaching the anticipated target of 0.6020. An interesting observation is the presence of positive signals exhibited by the stochastic indicator, which holds the potential to play a pivotal role in propelling the price to surpass this level. Should this materialize, the next phase of potential gains lies at 0.6085, followed by an even higher threshold at 0.6140.
The overarching projection maintains the continuation of the bullish trend on an intraday basis, unless a decisive breach of the 0.5900 level occurs and sustains itself with a daily close below this critical point.
As for today’s predicted trading range, it is expected to oscillate within the boundaries of 0.5920 as the support and 0.6010 as the resistance.
Projected Trend for the Day: Bullish