NZD/USD Faces Potential Support Test Near 50-Day EMA
The NZD/USD pair has recently lost ground following four straight sessions of gains, currently trading around 0.5720 during European hours on Friday. Technical analysis reveals a bullish bias, as the pair trends higher within a newly formed ascending channel pattern.
Traders should prepare for a potential retest of the 0.5700 support level near the 50-day EMA, a crucial indicator that could determine the direction of the pair in the coming days. Close monitoring of this currency pair is recommended.
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