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The NZD/USD pair’s recent rise halted around the $0.6100 barrier, leading to a bearish rebound as it begins to challenge the $0.6070 level. This downward movement suggests a potential decline towards negative targets, with the next key level at $0.6000.
We anticipate further declines in the upcoming sessions, supported by the negative pressure exerted by the 50-day Exponential Moving Average (EMA50). However, if the price fails to confirm a break below $0.6070, it may prompt new recovery attempts on an intraday basis.
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For today, the expected trading range for the NZD/USD pair is between the support level of $0.6015 and the resistance level of $0.6110.
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Trend Forecast: Bearish
