The NZD/USD pair is consolidating near the upper boundary of a sideways range. A decisive break above the August 20 high of 0.6248 could signal a bullish breakout, with potential targets at 0.6409 and 0.6448.
However, a failure to break above 0.6248 could lead to a renewed downward move towards the range floor at 0.5850. The recent bearish candlestick pattern and the failure to sustain gains above the range ceiling suggest a potential for further consolidation or a reversal.
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