The NZDUSD currency pair experienced significant negative pressure yesterday, breaking through the 0.6300 barrier and moving toward the key support level at 0.6228. However, the price shows signs of recovery as it opens today, buoyed by the support from the EMA50, which is expected to carry the price upward in the upcoming sessions. We anticipate a move towards the 0.6368 level as the main target.
It is important to note that a continued decline and a breach of the 0.6228 level would negate the bullish outlook and result in further losses.
The expected trading range for today is between 0.6230 support and 0.6330 resistance.
Trend Forecast: Bullish
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