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- The NZD / USD pair declined, but remains above the MA (200)
The NZD / USD pair declined, but remains above the MA (200)
Today, the NZD / USD pair is trading mostly down ($0.7150 to $0.7110), after rising yesterday to a new high of late April 2018 ($0.7170). On the hourly chart, the pair remains above the moving average line ma (200) h1 ($0.7085), and on the four-hour chart - above MA (200) H4 ($0.6960). In this situation, finding a buy position may be a wise decision for those who want to take advantage of the stronger New Zealand dollar. It is worth noting that the 14-day relative strength index (RSI (14) on D1) is above the level of 70, which signals a possible change in the direction of price movement.
⦁ Resistance levels are: $0.7170, $0.7215, $0.7270
⦁ Support levels are: $0.7110, $0.7055, $0.7005
The main scenario for the pair's promotion - correction, breaking yesterday's high of $0.7170 (December 14 high), and rising to $0.7215 (April 23’ 2018 high)
An alternative scenario - breakout of the session low of $0.7110 and MA (200) H1 ($0.7085), and there may be a decline in the pair to $0.7055 (December 16 low)
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