The NZD/USD pair is currently relying on the EMA50 as a robust support level against price fluctuations. It’s worth noting that the stochastic indicator is currently signaling oversold conditions, which could act as a catalyst for further positive movements in the pair.
The potential bullish trajectory would begin with a breakthrough above the 0.6020 level, paving the way for targets at 0.6085 and 0.6140.
As long as the pair remains above 0.5900 and does not break below it, the bullish trend remains intact.
Today’s projected trading range is expected to fluctuate between support at 0.5910 and resistance at 0.6010, maintaining the prevailing bullish sentiment.