The NZD/USD exchange rate is testing the key support level at $0.6000, showing signs of downward pressure. A potential breakdown below this level could signal a continuation of the bearish trend, with initial targets set at $0.5960, followed by $0.5915 as the next support zones.
A negative bias is anticipated for today, unless the price stabilizes above the $0.6000 mark and manages to break through the minor resistance at $0.6025. In such a case, a more neutral or even slightly bullish outlook could emerge.
For today’s trading, the expected range is between the $0.5950 support and $0.6060 resistance levels.
Trend Outlook: Bearish
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