The NZDUSD price declines again – Forecast today - 19-04-2024

NZDUSD Price Analysis

Expected Scenario

• The NZDUSD price couldn’t manage to hold for long time above 0.5915$ level, to trade with clear negativity now and head towards resuming the main bearish wave, and we suggest targeting the previously recorded low at 0.5772$ as a next main station.
• The EMA50 forms negative pressure that supports the continuation of the expected decline, which will remain valid unless breaching 0.5915$ and holding above it.

Expected Outcome

The expected trading range for today is between 0.5800$ support and 0.5905$ resistance.