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The NZD/USD currency pair is currently fluctuating around the $0.5915 level. A decisive break below this level is anticipated to confirm the continuation of the bearish trend, with new negative targets set at $0.5850 and potentially extending to $0.5775. This expectation is supported by the downward pressure exerted by the EMA50.
However, if the price consolidates above the $0.5915 level, it may experience an upward movement, testing the $0.6000 resistance barrier before establishing a clearer direction for the next trend.
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The expected trading range for today is between the support level of $0.5860 and the resistance level of $0.5960.
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Trend Forecast: Bearish
