The NZD/USD pair is currently fluctuating around the crucial support level at 0.5900 and maintaining a consolidation above it. Notably, the stochastic indicator is providing clear positive signals, supporting the potential for an intraday bullish wave with a primary target around 0.6020.
Consequently, we anticipate observing positive trading sessions in the near term. A breakthrough above 0.5935 would facilitate the achievement of the expected upward movement. However, if the pair breaches the support at 0.5900, it could lead to a reversal in the positive scenario and a shift towards a bearish trend.
The expected trading range for today is between the support at 0.5870 and the resistance at 0.5970.
Anticipated trend for today: Bullish