The NZD/USD currency pair has found stability above the key level of 0.5900, which has allowed it to establish a solid support base. This development is bolstering the prospects of an intraday bullish momentum, with the initial target for this upward movement set at 0.6020.
As such, the prevailing bias for today is bullish. However, it is essential to monitor the 0.5900 level closely, as a breach of this support could negate the positive scenario and result in a bearish turn.
For today’s trading session, analysts anticipate the NZD/USD pair to move within a trading range bordered by the support level at 0.5880 and the resistance level at 0.5980. Traders should remain vigilant and adjust their strategies accordingly as market conditions evolve throughout the day.