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- NZD/USD retreated from the lows of May 2020
NZD/USD retreated from the lows of May 2020
Today, the NZD/USD pair is mainly growing from $0.6055 to $0.6150, retreating from the minimum value since May 2020 ($0.5995) reached on Wednesday. On the hourly chart, the pair is testing the MA (200) H1 moving average line ($0.6090). On the four-hour chart, NZD/USD remains below MA (200) H4 ($0.6225). Technically speaking, the support of $0.5995 may keep prices from further decline. The upper limit of $0.6195 represents the resistance level.
Resistances are at the marks: $0,6195, $0,6250, $0,6310
An alternative scenario: $0,6085-95, $0,6030, $0,5995
The main scenario of the pair's movement implies a breakout of the support of $0.6085-95 (session low, MA (200) H1), followed by a possible decline to $0.6030 (September 8 low)
An alternative scenario for the pair's promotion implies a breakout of the resistance of $0.6195 (August 30 high) and an increase to $0.6250 (August 25 high)
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