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- NZD/USD fell sharply, retreating from a three-week high
NZD/USD fell sharply, retreating from a three-week high
Today, the NZD/USD pair fell sharply from $0.6660 to $0.6590, further retreating from the three-week high ($0.6680) reached yesterday. On the hourly chart, the pair fell below the moving average line MA (200) H1 ($0.6630), and on the four - hour chart-below MA (200) H4 ($0.6655). The $0.6570 support may keep the NZD/USD from falling further. If it breaks through, the price may drop to $0.6545. On the other hand, a breakout of the MA (200) H1 ($0.6630) may push the pair up to $0.6670-85. The most likely range of price movement today may be hidden within the wide range of $1.6570-1.6630.
⦁ Resistance levels are at: $0.6630, $0.6670-85, $0.6760
⦁ Support levels are at: $0.6570, $0.6545, $0.6510
The main scenario for the pair's promotion - continuation of the downward movement to $0.6570 (September 30 low)
An alternative scenario - correction, growth to MA (200) H1 ($0.6630) and then may be growth to $0.6670-85 (October 9-14 highs)
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