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- NZD/USD is declining but remains above the MA (200) Н1.
NZD/USD is declining but remains above the MA (200) Н1.
Today, the NZD/USD pair is mostly declining from 0.6010 to 0.5965, retreating from the 7-week high of 0.6050 reached last week. On the hourly chart, the pair remains above the MA (200) H1 moving average (0.5955). On the four-hour chart, the situation is similar. Technically speaking, the level of MA (200) H1 (0.5955) may keep prices from further decline. If this level is passed, the pair may fall to 0.5890-0.5900. The upper boundary of 0.6050 represents a strong resistance level.
Resistances are at the marks: 0.6010, 0.6050, 0.6130
An alternative scenario: 0.5955, 0.5890-0.5900, 0.5860
The main scenario of the pair movement assumes a break of the session high of 0.6010 and there may be a rise to 0.6050 (Sept 29 high).
The alternative scenario implies a decline to 0.5890-0.5900 (Sept 15-16, 21 and 27 lows).
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