financetom
Technology
financetom
/
Technology
/
The NZDUSD price breaks the support – Forecast today - 08-05-2024
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
The NZDUSD price breaks the support – Forecast today - 08-05-2024
May 7, 2024 9:31 PM

NZDUSD Price Analysis Outlook and Forecast for Current Trading Sessions Expected Scenario Price traded with clear negativity, breaking key support at 0.6000$ Bearish bias suggested for today Break below 0.5980$ needed to confirm continuation of bearish bias The NZDUSD price traded with clear negativity, breaking 0.6000$ level and starting to press on the breached neckline of the double bottom pattern, which hints heading to turn to decline, on its way to achieve negative targets that start by visiting 0.5915$ areas.

Therefore, the bearish bias will be suggested for today, and breaking 0.5980 is required to confirm the continuation of the bearish bias, noting that breaching 0.6000$ will stop the negative scenario and lead the price to recover again.

Expected Trading Range Support: 0.5935$ Resistance: 0.6030$ Trend Forecast: Bearish

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Demystifying Progress Software: Insights From 7 Analyst Reviews
Demystifying Progress Software: Insights From 7 Analyst Reviews
Apr 1, 2025
In the preceding three months, 7 analysts have released ratings for Progress Software ( PRGS ) , presenting a wide array of perspectives from bullish to bearish. Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 4...
Options Corner: PayPal Bulls Are Aiming To Buy Now, Pop Later
Options Corner: PayPal Bulls Are Aiming To Buy Now, Pop Later
Apr 1, 2025
At first glance, the narrative for financial technology platform PayPal Holdings Inc ( PYPL ) appears rather suspect. Consumer sentiment sank to its lowest reading since November 2022 while inflation expectations skyrocketed, reflecting the dour environment for discretionary spending. Throw in the tariffs President Donald Trump announced last month and the pessimism only exacerbates. Nevertheless, it's also fair to point...
Knight-Swift Faces Pressure With Lack Of Freight Flows Amid Tariffs, Analyst Downgrades Stock
Knight-Swift Faces Pressure With Lack Of Freight Flows Amid Tariffs, Analyst Downgrades Stock
Apr 1, 2025
BofA Securities analyst Ken Hoexter downgraded the shares of Knight-Swift Transportation Holdings Inc ( KNX ) on Tuesday from Buy to Neutral and lowered the price forecast from $66.00 to $46.00. The revision reflects a reduced valuation multiple of 28x, down from 33x, slightly exceeding the company’s historical range of 14x-26x. The stock currently trades at 26.4x the 2025 EPS estimate,...
Decoding Accenture's Options Activity: What's the Big Picture?
Decoding Accenture's Options Activity: What's the Big Picture?
Apr 1, 2025
Deep-pocketed investors have adopted a bearish approach towards Accenture ( ACN ) , and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in ACN usually suggests something big is about to happen. We gleaned this information from...
Copyright 2023-2025 - www.financetom.com All Rights Reserved