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- NZD/USD is trading near a monthly low
NZD/USD is trading near a monthly low
Today, the NZD/USD pair is trading in the range of $0.6720-65 - near the monthly low ($0.6715) reached yesterday. On the hourly chart, the pair remains below the moving average line MA (200) H1 ($0.6810), and on the four-hour chart it dropped below MA (200) H4 ($0.6865). Technically speaking, the support level of $0.6715 may keep prices from further decline. The upper bound of $0.6835 represents the resistance level.
⦁ Resistance levels are: $0.6810-35, $0.6900, $0.6965
⦁ Support levels are: $0.6715, $0.6675, $0.6630
The main scenario for the pair's promotion — break of yesterday's low of $0.6715 and there may be a decline to $0.6675 (February 28 low)
An alternative scenario — if the resistance of $0.6810-35 (April 14 high, MA (200) H1) is broken, then the pair may rise to $0.6900 (April 13 high)
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