NZDUSD Price Analysis
Outlook and Forecast for Current Trading Sessions
Expected Scenario
Price traded with clear negativity, breaking key support at 0.6000$
Bearish bias suggested for today
Break below 0.5980$ needed to confirm continuation of bearish bias
The NZDUSD price traded with clear negativity, breaking 0.6000$ level and starting to press on the breached neckline of the double bottom pattern, which hints heading to turn to decline, on its way to achieve negative targets that start by visiting 0.5915$ areas.
Therefore, the bearish bias will be suggested for today, and breaking 0.5980 is required to confirm the continuation of the bearish bias, noting that breaching 0.6000$ will stop the negative scenario and lead the price to recover again.
Expected Trading Range
Support: 0.5935$
Resistance: 0.6030$
Trend Forecast: Bearish
Origin: Economies
