The NZDUSD fails to settle positively – Analysis - 03-02-2023
The NZDUSD pair couldn’t manage to hold for long time above 0.6510, to trade negatively and head towards testing the bullish channel’s support line that appears on the chart, facing contradiction between the technical factors that makes us prefer to stay aside until we get clearer signal for the next trend.
Note that the continuation of the decline and breaking 0.6415 support line will push the price to start correctional bearish wave that targets 06290 areas mainly, while breaching 0.6510 resistance will lead the price to resume the main bullish trend and achieve gains that start by testing 0.6590 followed by 0.6710 areas.
The expected trading range for today is between 0.6410 support and 0.6520 resistance
The expected trend for today: Neutral
Forex and Currency News
Forex
Dollar plumbs three-week low ahead of US payrolls report
Dollar fell in European trade on Friday against a basket of major rivals, extending losses for the ...
Forex
Yen hits three-week high as Japanese authorities intervene
Yen rose in Asian trade on Friday against major rivals, extending gains for the third straight ...
Forex
Dollar rebounds ahead of US unemployment claims data
Dollar rose in European trade on Thursday against a basket of major rivals, resuming gains after a ...
Forex Technical Analysis
Forex
Update: Weak trades, waiting the US economic data
The major currencies’ pairs and commodities show weak and tight trades since morning, waiting ...
Forex
The EURJPY threats the support – Forecast today – 3-5-2024
Scenarios Scenario 1: Potential for Positive Momentum EURJPY pair unable to shake off negative ...
Forex
The GBPJPY fluctuates near the support – Forecast today – 3-5-2024
Scenarios Scenario 1: Activation of Bullish Momentum GBPJPY pair forms new negative waves, ...