NZD/USD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Trading Signal

    * NZD/USD pair nears 0.6140 level again with negative indicators, potentially breaking for further bearish correction towards 0.6020.

    * Bearish outlook maintained; surpassing 0.6210 could lead to testing 0.6290 before another decline.

    * Today's trading range: 0.6100 support to 0.6200 resistance.

The NZD/USD pair exhibits fresh negative movements, nearing the anticipated 0.6140 level again, with technical indicators providing negative signals. This bolsters the likelihood of breaking the 0.6140 level and pursuing further bearish correction, targeting 0.6020 as the next primary objective.

Thus, we maintain a bearish outlook for the near future, noting that surpassing 0.6210 could prompt the price to test the 0.6290 level before attempting another decline. Today's expected trading range lies between 0.6100 support and 0.6200 resistance.

NZD/USD Trade Ideas

Entry Price – Sell Below 0.61590

Stop Loss – 0.61976

Take Profit – 0.60930

Risk to Reward – 1 : 1.7

Profit & Loss Per Standard Lot = +$660/ -$386

Profit & Loss Per Micro Lot = +$66/ -$38