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The NZD/USD pair has continued its decline, nearing the anticipated target of 0.5915. Breaking this level is expected to pave the way for further decreases, targeting the 0.5850 and 0.5775 levels as subsequent negative milestones. This decline is influenced by a previously completed bearish pattern visible on the chart.
The EMA50 is exerting negative pressure, supporting the continuation of the predicted bearish trend, which will remain valid as long as the price stays below 0.6000.
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For today, the expected trading range is between the support level of 0.5870 and the resistance level of 0.5970.
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Trend Forecast: Bearish
