The NZDUSD pair successfully reached the awaited target at 0.6070, where it encountered substantial support, prompting a resurgence and the establishment of a bullish wave on an intraday basis. The initial objective within this upward movement is set at 0.6140.
Consequently, a bullish bias is recommended for today’s trading session. A breach of the aforementioned target would further extend the bullish momentum, with the next significant level at 0.6228 as the subsequent objective. It is crucial to note that any break below the 0.6070 mark would interrupt the anticipated ascent, potentially leading to a bearish correction.
Today’s expected trading range is forecasted to fluctuate between the support level at 0.6050 and the resistance at 0.6160. These levels provide crucial reference points for traders monitoring the ongoing developments in the NZDUSD pair.
In summary, the prevailing trend for the day is expected to be bullish, backed by the achievement of the target at 0.6070 and the initiation of an intraday bullish wave, contingent on the pair holding above this support level.