The NZD/USD currency pair is currently exhibiting a modest bearish bias, moving away from the 0.5900 level. This development reinforces expectations for the continuation of the bearish trend in the upcoming trading sessions, with the next main targets set at 0.5820 and subsequently 0.5750.
The EMA50, a key moving average, is providing support to this anticipated bearish wave. This bearish outlook will remain intact unless the pair manages to breach the 0.5900 level and sustain its position above it.
In terms of today’s expected trading range, it is forecasted to fluctuate between support at 0.5810 and resistance at 0.5900. The prevailing trend for today is leaning toward a bearish sentiment.