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The NZDUSD price forecast update 06-11-2024
The NZDUSD price declined strongly to succeed achieving our waited target at 0.5915$, trading positively affected by the RSI positivity, waiting to resume the bearish bias to break the mentioned level and head towards 0.5850$ as a next negative station.
Therefore, the bearish trend scenario will remain valid unless breaching 0.6000$ and holding with a daily close below it.
The expected trading range for today is between 0.5860$ support and 0.5990$ resistance
Trend forecast: Bearish
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The AUDUSD price forecast update 06-11-2024
The AUDUSD price touched the first negative target at 0.6536$ and attempted to break it, showing some bullish bias now affected by this level strength, waiting to break it to confirm extending the bearish wave towards 0.6450$.
MoreBrent oil price forecast update 06-11-2024
Brent oil price broke 75.36$ level strongly to reach 73.90$ level direct, noticing that the price consolidated above this level to start new recovery attempts, to suggest the bullish bias in the upcoming sessions unless breaking the last level and holding below it, supported by stochastic reach to the oversold areas, noting that the waited targets begin at 75.36$ and extend to 76.84$ after breaching the previous level.
MoreCrude oil price forecast update 06-11-2024
Crude oil price faced strong negative pressure to test the key support 70.58$, which forms solid barrier against the negative trades, and as we mentioned this morning, holding above this level keeps the bullish trend scenario active for the upcoming period, and the price needs to breach 72.15$ to confirm heading towards 73.70$ as a next positive station, noting that breaking 70.58$ will push the price to suffer additional losses that reach 68.65$ on the near-term basis.
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