Market Analysis: NZD/USD Hits Three-Month Low Driven by Economic Factors
Tuesday, 30 July 2024, 11:15
NZD/USD Market Overview
On the H4 chart of NZD/USD, the market executed a wave of decline to the level of 0.5858. Today, the market is correcting this wave of decline.
Price Predictions
- Expected growth link to the level of 0.5903.
- If 0.5903 is breached upwards, further growth to 0.5987 (test from below) is likely.
- After the correction, we anticipate a new wave of decline to 0.5840.
- Longer-term prospects may lead to a decline to 0.5822.
Technical Analysis
This scenario is confirmed by the MACD indicator, whose signal line is under the zero mark and directed strictly upwards.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.