The NZD/USD pair has recently made further positive movements, approaching the resistance line of its bearish channel. Traders are advised to anticipate a bearish rebound, aiming to continue the decline within this channel. The first key target remains at 0.5450$.
It is important to note that a breakout above 0.5650$ would invalidate the current bearish trend and lead to a potential bullish correction on both an intraday and short-term basis.
Today’s expected trading range is between 0.5550$ support and 0.5650$ resistance.
Trend Forecast: Overall Bearish
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