NZD/USD Price Forecast for July 3, 2024

by Jennifer

NZD/USD Price Analysis:

The NZD/USD pair did not remain below the $0.6070 level for long, closing yesterday’s session above it and signaling a potential recovery in the coming sessions. However, the pair faces negative pressure from the 50-day Exponential Moving Average (EMA), which could lead to another decline.


Given this uncertainty, it is advisable to wait until the price confirms its stance relative to the $0.6070 level. Consolidation above this level could lead to intraday gains, potentially reaching $0.6140. Conversely, a break below $0.6070 would likely result in a decline towards the $0.6000 area.


Expected Trading Range:

Today’s trading range is expected to be between the $0.6025 support level and the $0.6125 resistance level.

Trend Forecast: Neutral

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