The NZDUSD pair initially struggled to maintain levels below 0.5900, but it has since displayed positive momentum and made efforts to secure gains on an intraday basis. However, it’s important to note that the stochastic indicator currently shows signs of negativity.
As the market awaits clearer signals for the next trend, it is advisable to remain on the sidelines.
Should the pair breach the 0.5935 level, it is likely to experience upward movement in the upcoming sessions, targeting 0.6020 directly. Conversely, breaking below 0.5900 would represent a negative factor, potentially leading the price towards 0.5800 and 0.5750 levels.
The expected trading range for today is between 0.5860 (support) and 0.5990 (resistance).
The expected trend for today is neutral.