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- NZD/USD is trading near a monthly high
NZD/USD is trading near a monthly high
Today, the NZD/USD pair is mainly declining from $0.6205 to $0.6160 - near the monthly high of $0.6245 reached on Friday. On the hourly chart, the pair is testing the MA (200) H1 moving average line ($0.6160). The situation is similar on the four-hour chart. Technically speaking, the resistance level of $0.6245 may keep the pair from further growth. The lower bound of $0.6145-55 represents the support level.
Resistances are at the marks: $0.6205, $0.6245-70, $0.6305
An alternative scenario: $0.6145-55, $0.6105, $0.6030
The main scenario of the pair's movement assumes a breakout of the session maximum of $0.6205 and there may be an increase to $0.6245-70 (May 17 and June 16 highs)
The alternative scenario implies a breakout of support of $0.6145-55 (June 14-15 lows) and there may be a decrease to $0.6105 (June 12-13 lows)
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