The NZD/USD pair remains on a downward trajectory, extending its negative performance as it approaches our initial target at 0.5935. The bearish bias is expected to persist, targeting the next downside objective at 0.5900. This reinforces the prevailing bearish trend scenario on the intraday basis.
The continuation of the bearish momentum is contingent upon the price maintaining its position below 0.6020. A breakthrough below 0.5900 is anticipated to propel the pair towards further negative targets, potentially reaching levels around 0.5815 in the near term.
As of the latest analysis, the expected trading range for the day is projected to fluctuate between the support level at 0.5900 and the resistance level at 0.6000.
Expected Trend for Today: Bearish