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The NZDUSD tests the resistance – Analysis - 24-02-2023
The NZDUSD pair tests the correctional bearish channel’s resistance now, and the EMA50 meets this resistance to add more strength to it, waiting to resume the negative trades to test 0.6140 that represents our next main target.
Therefore, we will keep our bearish overview, organized inside the bearish channel that appears on the chart, waiting to get negative motive that assist to push the price to resume the expected decline.
On the other hand, we should note that breaching 0.6290 will stop the negative scenario and push the price to attempt to regain the main bullish trend again.
The expected trading range for today is between 0.6160 support and 0.6280 resistance
The expected trend for today: Bearish
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The AUDUSD touches the target – Analysis - 24-02-2023
The AUDUSD pair managed to touch 0.6780 level and found solid support there, to show some temporary bullish bias, affected by stochastic positivity, while the EMA50 continues to form negative pressure against the price, to support the continuation of the correctional bearish trend and head to visit 0.6665 as a next negative target.
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