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The NZDUSD price activates the negative scenario – Forecast today - 28-10-2024
The NZDUSD price broke 0.6000$ level clearly and settled below it, starting today with more decline to confirm the activation of the negative scenario on the intraday and short-term basis, on its way to visit 0.5915$ areas initially.
Therefore, the bearish trend will be expected for today, supported by the negative pressure formed by the EMA50, noting that breaching 0.6000$ will stop the current negative pressure to turn to rise on the intraday basis.
The expected trading range for today is between 0.5910$ support and 0.6010$ resistance
Trend forecast: Bearish
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