The NZDUSD price forecast update June 30th

The NZD/USD pair is trading around 0.60914. The price is currently below both the 100-period and 200-period moving averages, indicating a bearish trend.

There is a significant support zone around 0.60313 to 0.59926. This zone had previously acted as a support but has been broken and retested, indicating a potential shift to resistance. Immediate resistance is around 0.60824, just above the current price.

The price has recently broken through a significant support level (around 0.60824) and retested it, suggesting a potential continuation of the downtrend.

Summary: Right Now it indicates a bearish trend with the price trading below key moving averages and having recently broken a critical support level. Traders should look for selling opportunities on rallies to resistance levels, with potential downside targets near the descending support line around 0.59000. Always ensure proper risk management with stop-loss orders above key resistance levels.

What do you think ? Let me know in the comments

SIGNAL:

• SELL: 0.60944 - 0.61085
  
• STOP: 0.61168
  
• TAKE PROFIT: 0.60295
  
• TAKE PROFIT: 0.59948
  

NOTE: Trade at your own risk. Thank you