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The NZDUSD price has shown positive movement at today’s open, testing the resistance line of the bearish channel. The 50-period exponential moving average (EMA50) coincides with this resistance, reinforcing its strength. The expectation remains for the price to resume the main bearish trend, targeting the next level at $0.5775.
However, it is important to note that breaking through the $0.5885 resistance, followed by $0.5915, would halt the anticipated decline and trigger a bullish correction, with the first target at $0.6000.
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The expected trading range for today is between $0.5710 (support) and $0.5900 (resistance).
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Trend Forecast: Bearish
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