NZD/USD Price Analysis:
The NZD/USD pair did not remain below the $0.6070 level for long, closing yesterday’s session above it and signaling a potential recovery in the coming sessions. However, the pair faces negative pressure from the 50-day Exponential Moving Average (EMA), which could lead to another decline.
Given this uncertainty, it is advisable to wait until the price confirms its stance relative to the $0.6070 level. Consolidation above this level could lead to intraday gains, potentially reaching $0.6140. Conversely, a break below $0.6070 would likely result in a decline towards the $0.6000 area.
Expected Trading Range:
Today’s trading range is expected to be between the $0.6025 support level and the $0.6125 resistance level.
Trend Forecast: Neutral
