The NZDUSD pair successfully breached the 0.5900 level, concluding the daily candlestick below this threshold. This development reinforces the outlook for a sustained bearish trend, paving the way for further declines with initial targets at 0.5850, followed by 0.5800.
The downtrend is supported by the move below the EMA50, and its continuation is contingent upon the price maintaining stability below 0.5900.
The projected trading range for today is expected to fluctuate between the support level at 0.5835 and the resistance at 0.5930. The prevailing trend for the day is anticipated to be bearish.