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- NZD/USD is trading near the lows of May 2020
NZD/USD is trading near the lows of May 2020
Today, the NZD/USD pair is trading in the range of $0.6050-95, having reached the lows of May 2020. On the hourly chart, the pair dropped below the MA (200) H1 moving average line ($0.6155). On the four-hour chart, NZD/USD remains below MA (200) H4 ($0.6250). Technically speaking, the support of $0.6050 can keep prices from further decline. The upper limit of $0.6195 represents the resistance level.
Resistances are at the marks: $0,6155, $0,6195, $0,6250
An alternative scenario: $0,6050, $0,5955, $0,5920
The main scenario of the pair's movement implies a breakout of the session minimum of $0.6050, followed by a possible decline to $0.5920 (May 15’ 2020 low)
An alternative scenario for the pair's promotion implies a breakout of the resistance of $0.6155 (August 31 high, MA (200) H1) and an increase to $0.6195 (August 30 high)
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