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The NZD/USD continues to show a bearish bias, testing the EMA50, which provides strong support around $0.5865. A further decline is anticipated, with the first target set at $0.5850, followed by $0.5775.
The bearish trend remains intact as long as the price stays below $0.5935. If this level is breached, the outlook could shift, potentially leading to a bullish correction with a target around $0.6020.
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The expected trading range for today is between $0.5820 for support and $0.5910 for resistance.
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Trend Forecast: Bearish
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