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- NZD/USD is trading near the lows of March 2020
NZD/USD is trading near the lows of March 2020
Today, the NZD/USD pair is mainly growing in the range of $0.5805-85 - near the lows of March 2020. On the hourly chart, the pair dropped below the MA (200) H1 moving average line ($0.5975). On the four-hour chart, NZD/USD remains below MA (200) H4 ($0.6150). Technically speaking, the support of $0.5805 can keep prices from further decline. The upper limit of $0.5975 represents the resistance level.
Resistances are at the marks: $0,5910, $0,5975, $0,6025
An alternative scenario: $0,5805, $0,5585, $0,5470
The main scenario of the pair's movement assumes a breakout of the session minimum of $0.5805 and there may be a decline to $0.5585 (March 23’ 2020 low)
An alternative scenario for the pair's promotion implies a breakout of the resistance of $0.5910 (September 21 high) and there may be an increase to $0.5975 (September 20 high)
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