The NZD/USD currency pair has successfully achieved our initial anticipated target at 0.5900, where it encountered substantial support. Following this support, the pair has initiated a bullish rebound, setting the stage for a potential intraday bullish wave with an eye on the 0.6020 level.
Consequently, today’s bias leans toward a bullish outlook, with substantial support from clear stochastic positivity evident on the four-hour time frame. It is essential to underline that the continuation of this bullish momentum hinges on the pair’s ability to maintain its position above the critical level of 0.5900.
For today’s trading outlook, the projected range encompasses support at 0.5880 and resistance at 0.5970. The expected trend for the day is bullish, with a bullish wave on the horizon as long as the price remains above 0.5900.