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- NZD/USD is testing MA (200) H1
NZD/USD is testing MA (200) H1
Today, the NZD/USD pair is trading in the range of $0.6030-80 and is testing the MA (200) H1 ($0.6055) moving average line on the hourly chart. On the four-hour chart, the pair is trading below MA (200) H4 ($0.6180). Technically speaking, the resistance level of $0.6110 can keep the pair from further growth. The lower bound of $0.5985 represents the support level.
Resistances are at the marks: $0.6110, $0.6180, $0.6255
An alternative scenario: $0.6030, $0.5985, $0.5840
The main scenario of the pair's movement assumes a breakout of the support of $0.6030 (June 7 low) and there may be a decline to $0.5985 (November 11’ 2022, May 31 low)
An alternative scenario implies a breakout of the resistance of $0.6110 (May 25 and June 2 low) and there may be an increase to $0.6255 (May 24 high)
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