Price Analysis for NZDUSD
Expected Scenario
The NZDUSD price remains range-bound between the support at 0.6070$ and resistance at 0.6140$, leading us to maintain our neutral stance for now. A breakthrough of either of these levels is necessary to identify the next targets.
It’s worth noting the conflicting signals from technical indicators, adding another reason for our neutral outlook.
A continuation of the decline and breach of the support level would exert negative pressure on the price, targeting an initial test of the 0.6000$ barrier. Conversely, breaking the resistance could prompt a resumption of the bullish trend, targeting the next resistance at 0.6228$.
Expected Trading Range
Between 0.6040$ support and 0.6140$ resistance.
Trend Forecast: Neutral
Origin: Economies
