The NZDUSD breaks the support – Analysis - 31-01-2023

Economies.com
4 months ago

The NZDUSD pair broke the bullish channel’s support line clearly and turns to decline on the intraday basis, targeting visiting 0.6365 followed by 0.6275 levels as main negative targets.

 

Therefore, the bearish bias will be expected for today, and breaking 0.6430 will ease the mission of achieving the suggested targets, noting that breaching 0.6510 will stop the expected decline and lead the price to resume the main bullish track again.

 

The expected trading range for today is between 0.6370 support and 0.6500 resistance

The expected trend for today: Bearish

Forex and Currency News

GBP/USD news

Forex

Sterling moves in negative zone on grim economic outlook
2 hours ago
Sterling fell in European trade for the fourth straight session against dollar, amid a grim outlook ...
AUD/USD news

Forex

Aussie is most profitable major currency after unexpected RBA decision
1 day ago
Australian dollar rose widely on Tuesday for the fourth straight session, hitting three-week highs ...
USD/CHF news

Forex

Swiss franc hovers near two-month low following inflation data
1 day ago
Swiss franc fell in European trade for  a second session against dollar, almost hitting ...

Forex Technical Analysis

Technical Analysis

Forex

The GBPCAD attacks the moving average – Analysis – 7-6-2023
4 hours ago
The GBPCAD pair confirmed its affection by the domination of the bearish bias since it exited the ...
EUR JPY Analysis

Forex

The EURJPY threats the positive stability – Analysis – 7-6-2023
4 hours ago
The EURJPY pair provided negative signal by crawling below the minor bullish channel’s ...
GBP JPY Analysis

Forex

The GBPJPY still bullish – Analysis – 7-6-2023
4 hours ago
Despite the negative pressures that the GBPJPY pair faced yesterday and forming bearish wave, that ...