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The NZDUSD price breaches the resistance – Forecast today - 08-11-2024
The NZDUSD price continued to rise to breach 0.6000$ and settle above it, to hint heading to recover in the upcoming sessions, but we notice that the price lost its positive momentum and press on the mentioned level, which might push the price to decline again.
Therefore, the contradiction between the technical factors makes us prefer to stay aside until the price confirms its situation according to 0.6000$ level, noting that breaking it will reactivate the bearish wave scenario that its next target reaches 0.5915$, while consolidating above it will lead the price to achieve additional gains that reach 0.6070$.
The expected trading range for today is between 0.5950$ support and 0.6060$ resistance
Trend forecast: Neutral
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The AUDUSD price achieves additional bullish correction – Forecast today - 08-11-2024
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