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- NZD/USD tests MA (200) H1
NZD/USD tests MA (200) H1
Today, the NZD/USD pair is trading in the range of 0.5885-0.5915 and is testing the MA (200) H1 moving average line (0.5910) on the hourly chart. On the four-hour chart, the pair is trading well below the MA (200) H4 (0.5980). Technically speaking, the 0.5860 support level may keep prices from further declines. The upper boundary of 0.5960 represents a strong resistance level.
Resistances are at the marks: 0.5935, 0.5960, 0.6015
An alternative scenario: 0.5885, 0.5860, 0.5745
The main scenario of the pair movement assumes a break of the session low of 0.5885 and there may be a decline to 0.5860 (Sept 5-6 low).
The alternative scenario implies a break of resistance at 0.5935 (Sept 11 high) and there could be a rise to 0.5960 (Sept 4 high)
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