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- NZD/USD dropped to a 2-month low
NZD/USD dropped to a 2-month low
Today, the NZD/USD pair is trading with a decline from $0.6735 to $0.6665, reaching a 2-month low. The pair broke through the support of $0.6715, which became the nearest resistance. On the hourly chart, the pair dropped below the moving average line MA (200) H1 ($0.6775) and on the four-hour chart remains below MA (200) H4 ($0.6860). Technically speaking, the support level of $0.6630 can keep prices from further decline. The upper bound of $0.6815 represents the resistance level.
⦁ Resistance levels are: $0.6715, $0.6775, $0.6815
⦁ Support levels are: $0.6665, $0.6630, $0.6590
The main scenario for the pair's promotion — breakout of the session low of $0.6665 and there may be a decline to $0.6630 (February 24 low)
An alternative scenario — it is still possible for the pair to rise to $0.6815 (April 20 high)
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