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- NZD/USD remains above the MA (200) H1.
NZD/USD remains above the MA (200) H1.
Today, the NZD/USD pair is trading in the 0.5905-40 range and remains above the MA (200) H1 moving average line (0.5900) on the hourly chart. On the four-hour chart, the pair is testing the MA (200) H4 (0.5910). Technically speaking, the support at 0.5875 may keep prices from further declines. If this level is passed, the pair may drop to 0.5775. The upper boundary of 0.6000 represents a strong resistance level.
Resistances are at the marks: 0.5940, 0.6000, 0.6055
An alternative scenario: 0.5900-05, 0.5875, 0.5775-90
The main scenario of the pair implies a break of resistance at 0.5940 (Nov 8 high) and a possible rise to 0.6000 (Nov 3-6 high)
The alternative scenario implies a break of the support at 0.5900-05 (Nov 8 low, MA (200) H1) and a possible decline to 0.5875 (low of the European session on Nov 2).
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