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- Technical Analysis
- NZD/USD has fallen to a 2-week low.
NZD/USD has fallen to a 2-week low.
The NZD/USD pair is mostly down from 0.5955 to 0.5890 today, hitting a 2-week low. On the hourly chart, the pair dipped slightly below the moving average line MA (200) H1 (0.5955). On the four-hour chart, the situation is similar. Technically speaking, the support at 0.5880 may keep the prices from further decline. If this level is passed, the pair may fall to 0.5860. The upper boundary of 0.6010 is a strong resistance level.
Resistances are at the marks: 0.5955, 0.6010, 0.6050
An alternative scenario: 0.5880, 0.5860, 0.5840
The main scenario of the pair suggests a break of the support at 0.5880 (Sept 13 low) and a possible decline to 0.5860 (Sept 5-6 low).
The alternative scenario implies a rise to 0.5955 (session high, MA (200) H1) and may be a rise to 0.6010 (Oct 2 high).
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