NZD/USD Price Fluctuates Around Key Support – August 16, 2024 Forecast

by Jennifer

The NZD/USD pair continues to hover around the $0.6000 level, with recent attempts to break below it. The RSI is indicating positive signals, suggesting a potential intraday rise, with a primary target of testing the $0.6070 level.

Maintaining a position above $0.6000 is crucial for sustaining the anticipated upward movement. A break below this support level could lead to a decline, potentially driving the price toward the $0.5915 area in the near term.

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The expected trading range for today is between $0.5960 support and $0.6070 resistance.

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Trend Forecast: Neutral

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