The NZDUSD price tests the support base – Forecast today - 08-04-2024

NZDUSD Price Analysis

Expected Scenario

• The NZDUSD price fluctuates around the 0.6000$ level, maintaining stability above it until now, thus keeping the bullish trend scenario active for the upcoming period. The next target is located at 0.6070$.
• The EMA50 protects the price from decline and supports the continuation of the expected bullish trend, which will remain valid conditioned by the price stability above 0.6000$.

Expected Outcome

The NZDUSD price is currently fluctuating around the 0.6000$ level, maintaining stability above it and thereby keeping the bullish trend scenario active. The next target is at 0.6070$. The EMA50 acts as support against declines, reinforcing the continuation of the bullish trend, which remains valid as long as the price stays above 0.6000$.

Expected Trading Range

Between 0.5980$ support and 0.6065$ resistance.