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NZDUSD Price Hits Target: Forecast for July 8, 2024

by Jennifer

NZDUSD Price Analysis

The NZDUSD price has successfully reached our anticipated target at $0.6140 and begins today with additional bullish momentum aimed at surpassing this level. This reinforces expectations for a continuation of the bullish trend in the upcoming trading sessions, with the next target projected at $0.6228.

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The current bullish sentiment is supported by the price moving above the EMA50, indicating potential strength in the upward movement. For this bullish scenario to remain valid, it is crucial for the price to maintain stability above the key level of $0.6140.

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Expected Trading Range

Today’s trading range is expected to fluctuate between a support level of $0.6100 and a resistance level of $0.6200.

Trend Forecast: Bullish

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