The NZD/USD pair is currently displaying a bullish bias as it makes an attempt to approach our awaited target at 0.6020. This maintains the scenario of a bullish trend on an intraday basis, supported by positive momentum according to stochastic indicators.
Furthermore, the presence of the EMA50 adds further strength to the expected rise. This bullish outlook will remain valid unless the price breaks below the 0.5900 level, and it’s important to observe if such a move is accompanied by a daily close below this level.
Today’s expected trading range spans between 0.5930 as support and 0.6020 as resistance. Traders should keep a close eye on price movements to gauge the ongoing market sentiment.
The NZD/USD pair is currently making a bullish attempt towards our target at 0.6020. The overall bullish trend remains in place on an intraday basis, supported by favorable stochastic indicators. However, it’s crucial to monitor the price’s ability to stay above the 0.5900 level, as a break below this point could signal a shift in market dynamics.