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- NZD/USD fell to a 2-month low
NZD/USD fell to a 2-month low
The NZD/USD pair is mostly down from 0.6110 to 0.6040 today, hitting a 2-week low. On the hourly chart, the pair fell below the MA (200) H1 moving average line (0.6135). On the four-hour chart, the situation is similar. Technically speaking, the support at 0.6030 may keep prices from further decline. In case of its breakdown, the pair may fall to 0.5985. The upper boundary of 0.6135 represents a strong resistance level. The most probable range of the pair's movement for today may be hidden within the existing range of 0.6030-0.6135.
Resistances are at the marks: 0.6135, 0.6170, 0.6225
An alternative scenario: 0.6030, 0.5985, 0.5840
The main scenario of the pair suggests a break of support at 0.6030 (June 7-8 low) and a possible decline to $0.5985 (May 31 low)
Alternative scenario implies a break of resistance at 0.6135 (August 4 high, МА (200) Н1) and a possible rise to 0.6170 (August 2 high).
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