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The NZD/USD price opened today with a strong decline, successfully reaching the anticipated negative target of $0.6070, influenced by the Reserve Bank of New Zealand’s rate decision. The path appears open for the bearish wave to extend towards the next main station at $0.6000.
We continue to suggest a bearish trend for the upcoming period. However, if the price fails to break the $0.6070 level, it may start recovery attempts and head to test the $0.6140 area.
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Today’s expected trading range is between the support level of $0.6020 and the resistance level of $0.6110.
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Trend forecast: Bearish
