The NZDUSD pair has experienced negative price action in recent sessions, testing the 50-period Exponential Moving Average (EMA50), which is currently providing strong support. This support could potentially motivate a reversal, pushing the price higher toward an initial test of the 0.5738 level. A breakout above this resistance could open the door for further gains, with the next key target at 0.5860.
Traders will be monitoring the price closely to see if the support at the EMA50 holds and sparks a bullish move.
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