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- NZD/USD is trading slightly above MA (200) H1
NZD/USD is trading slightly above MA (200) H1
Today, the NZD/USD pair is trading in the range of $0.6160-0.6220 - about a weekly high. On the hourly chart, the pair rose slightly above the MA (200) H1 moving average line ($0.6140). The situation is similar on the four-hour chart. Technically speaking, the resistance level of $0.6225 may keep the pair from further growth. The lower bound of $0.6030-50 represents the support level.
Resistances are at the marks: $0.6225, $0.6250, $0.6305
An alternative scenario: $0.6140, $0.6030-50, $0.5985
The main scenario of the pair's movement assumes a breakout of the resistance of $0.6225 (June 22 high) and there may be an increase to $0.6250 (June 16 high)
An alternative scenario implies a breakout of the support of $0.6140 (July 3 low, MA (200) H1) and there may be a decline to $0.6030-50 (June 7-8 and 29 lows)
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