The NZDUSD currency pair has undergone a notable bearish shift, culminating in the breach of the crucial support level at 0.5900. Subsequently, the pair has embarked on a downward trajectory, achieving the anticipated downside target at 0.5830. Market analysis suggests that this decline is poised to extend beyond this point, with the next targeted level lying at 0.5750.
The prevailing sentiment indicates the likelihood of further declines in the upcoming trading sessions, unless the price experiences a substantial rally leading to a successful breach of the 0.5900 level and its subsequent maintenance.
The projected trading range for today encompasses the support level at 0.5760 and the resistance level at 0.5870.
The prevailing trend for the day is expected to be bearish, in accordance with the current market conditions.