financetom
Technology
financetom
/
Technology
/
The NZDUSD price breaks the support – Forecast today - 08-05-2024
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
The NZDUSD price breaks the support – Forecast today - 08-05-2024
May 7, 2024 9:31 PM

NZDUSD Price Analysis Outlook and Forecast for Current Trading Sessions Expected Scenario Price traded with clear negativity, breaking key support at 0.6000$ Bearish bias suggested for today Break below 0.5980$ needed to confirm continuation of bearish bias The NZDUSD price traded with clear negativity, breaking 0.6000$ level and starting to press on the breached neckline of the double bottom pattern, which hints heading to turn to decline, on its way to achieve negative targets that start by visiting 0.5915$ areas.

Therefore, the bearish bias will be suggested for today, and breaking 0.5980 is required to confirm the continuation of the bearish bias, noting that breaching 0.6000$ will stop the negative scenario and lead the price to recover again.

Expected Trading Range Support: 0.5935$ Resistance: 0.6030$ Trend Forecast: Bearish

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Copyright 2023-2025 - www.financetom.com All Rights Reserved