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- NZD/USD is trading near a 6-week low
NZD/USD is trading near a 6-week low
Today, the NZD/USD pair is trading in the range of $0.6100-30 - about a 6-week low. On the hourly chart, the pair dropped below the MA (200) H1 moving average line ($0.6210). The situation is similar on the four-hour chart. In this situation, a scenario of further decline of the NZD/USD pair is likely, and a sell position may be a wise decision. Technically speaking, the support of $0.6060 can keep prices from further decline. The upper limit of $0.6210-50 represents the resistance level.
Resistances are at the marks: $0,6210-50, $0,6315, $0,6385
An alternative scenario: $0,6100, $0,6060, $0,6030
The main scenario of the pair's movement implies a breakout of the session minimum of $0.6100, followed by a possible decline to $0.6060 (July 14 low)
An alternative scenario for the pair's promotion implies an increase to $0.6250 (August 25 high)
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