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- NZD/USD is declining and testing MA (200) H1
NZD/USD is declining and testing MA (200) H1
Today, the NZD/USD pair is trading mainly with a decline from $0.6570 to $0.6485, having lost some of the positions gained yesterday. On the hourly chart, the pair is testing the moving average line MA (200) H1 ($0.6510), but on the four-hour chart it remains below MA (200) H4 ($0.6775). Technically speaking, the support level of $0.6410 can keep prices from further decline. The upper limit of $0.6645 represents the resistance level.
⦁ Resistance levels are: $0.6570-90, $0.6645, $0.6740
⦁ Support levels are: $0.6410, $0.6385, $0.6260
The main scenario for the pair's promotion — support breakout of $0.6410 (May 2-3 low) and may be a decline to $0.6385 (June 30’ 2020 low)
An alternative scenario — the resistance breakout is $0.6570-90 (April 27 high, session maximum) and there may be an increase to $0.6645 (April 26 high)
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