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HomeCurrenciesNZD/USD Hits Initial Target, Eyes Further Upside

NZD/USD Hits Initial Target, Eyes Further Upside

The NZD/USD pair successfully reached our initial target at 0.6365 and has found stability at this level. The pair awaits further upward movement, targeting the next optimistic objective at 0.6425. This bullish outlook is reinforced by the support provided by the EMA50, which currently underpins the price from below.

The current downside pressure indicated by Stochastic might impede the continuation of the upward trajectory. However, the anticipation is for a shift to positive momentum, facilitating the realization of the suggested targets. It remains crucial for the pair to maintain levels above 0.6290 to sustain the ongoing bullish trend.

In today’s trading, the projected range is expected to fluctuate between the support level at 0.6310 and the resistance level at 0.6410.

Expected Trend for Today: Bullish