The NZDUSD price attempts positively – Forecast today - 10-05-2024
Economies.com
2024-05-10 03:57AM UTC
NZDUSD Price Analysis
Expected Scenario
The NZDUSD price showed a clear bounce upwards yesterday, surpassing the 0.6000$ level. However, today, it started with a new decline, indicating a potential resumption of the expected bearish trend on the intraday basis. The loss of positive momentum suggests a move towards testing 0.6000$ followed by 0.5980$ levels again.
Note that breaking these levels is necessary to confirm the continuation of the decline towards 0.5915$ as the next negative target.
On the other hand, the rise and breaching of 0.6070$ will halt the expected bearish trend and lead to a potential rise.
Expected Trading Range for Today
Between the support at 0.5960$ and the resistance at 0.6060$
Trend Forecast: Bearish
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