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NZDUSD Price Forecast – June 24, 2024: Bearish Outlook

by Jennifer

NZDUSD Price Analysis

The NZDUSD price is currently declining steadily, approaching the critical barrier at $0.6100. Further downside movement is anticipated, targeting the $0.6070 level primarily. The ongoing bearish wave is supported by the EMA50, reinforcing its validity unless the price manages to breach above $0.6140 and sustain trading above this level.

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Expected Scenario

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Today’s outlook for the NZDUSD pair remains bearish. Traders should monitor the price action around the $0.6100 barrier closely, as a breach could lead to a continuation towards $0.6070. Conversely, a break above $0.6140 may signal a reversal and potential bullish momentum towards higher levels.

Expected Trading Range

  • Support: $0.6050
  • Resistance: $0.6250

Trend Forecast: Bearish

 

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