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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 $0.6130-95 slightly above the 6-week low of $0.6100 reached yesterday. On the hourly chart, the pair is testing the strength of the MA (200) H1 moving average line ($0.6195). On the four-hour chart, NZD/USD remains below MA (200) H4 ($0.6250). Technically speaking, the support of $0.6100 can keep prices from further decline. The upper limit of $0.6250 represents the resistance level.
Resistances are at the marks: $0,6195, $0,6250, $0,6310
An alternative scenario: $0,6100, $0,6060, $0,6030
The main scenario of the pair's movement implies a breakout of the support of $0.6100 (August 29 low), 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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