The NZDUSD faces solid resistance – Analysis – 31-01-2024

nzd_1_newsThe NZDUSD pair found solid resistance at 0.6140 level, which forces the price to rebound bearishly to head towards potential test to 0.6070 in the upcoming sessions, which makes us suggest witnessing negative trades today, being aware that it is important to monitor the price at the mentioned level due to its importance to determine the next trend.

On the other hand, we should note that breaching 0.6140 will stop the expected decline and lead the price to resume the bullish track again.

The expected trading range for today is between 0.6050 support and 0.6150 resistance

The expected trend for today: Bearish

Origin: Economies

 

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