NZDUSD → Local trend change? Moving down ↓ ?

19 Jun 2024

NZDUSD breaks trend support amid a strong dollar. The currency pair could move to the downside if the bears hold the resistance area on their count.



On the daily timeframe, the currency pair is inside the sideways channel, but at the same time breaks the ascending support line. Thus, the market is starting to look towards 0.6084 support as an area of interest.
The US market has a day off today, so the volatility may be low, but nevertheless we have prerequisites for the beginning of the downward movement. If the bears keep the price below 0.6150-0.6140, the market may enter the phase of downward movement and head towards such targets as: 0.6083, 0.6000.

Resistance levels: 0.6140, 0.6170, 0.6215
Support levels: 0.6083, 0.6000

At the moment the market is struggling for the area of 0.6140. Consolidation below the level or the beginning of the impulse to the support will confirm that the bears are holding the market, then we will have to wait for the achievement of the goals.

Regards R. Linda!

19 Jun 2024

Dagangan aktif

Consolidation is formed under the level
bears continue to struggle

20 Jun 2024

Dagangan aktif

Consolidation below key resistance.
The beginning of bearish impulse will be a confirmation of readiness to go downward