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- NZD/USD is trading near a 3-month low
NZD/USD is trading near a 3-month low
Today, the NZD/USD pair is trading in the range of $0.6550-90 - about a 3-month low. The pair broke through the support of $0.6715, which became resistance. On the hourly chart, the pair dropped below the moving average line MA (200) H1 ($0.6700) and on the four-hour chart remains below MA (200) H4 ($0.6835). Technically speaking, the support level of $0.6530-50 can keep prices from further decline. The upper limit of $0.6700-15 represents the resistance level.
⦁ Resistance levels are: $0.6645, $0.6700-15, $0.6815-35
⦁ Support levels are: $0.6530-50, $0.6510, $0.6485
The main scenario for the pair's promotion — support breakout is $0.6530-50 (January 28 low, session minimum) and there may be a decline to $0.6510 (September 24’ 2020 low)
An alternative scenario — the pair's growth to $0.6645 (April 26 high) and then, maybe to $0.6700-15 (April 18 low, MA (200) H1)
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