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- Technical Analysis
- NZD/USD is trading near the 5-month high.
NZD/USD is trading near the 5-month high.
Today, the NZD/USD pair is mostly rising in the 0.6205-45 range - near the 5-month 0.6250 reached yesterday and last week. On the hourly chart, the pair has moved above the MA (200) H1 moving average line (0.6170) and remains above the MA (200) H4 (0.6065) on the four-hour chart. Technically speaking, the resistance at 0.6250 may keep prices from rising further. If this level is passed, the pair could rise to 0.6275. The lower boundary of 0.6085 represents a strong support level.
Resistances are at the marks: 0.6250, 0.6275, 0.6310
An alternative scenario: 0.6200, 0.6170, 0.6085
The main scenario of the pair implies a break of resistance at 0.6250 (Dec 14 and 18 high) and may be a rise to 0.6275 (July 27 high)
The alternative scenario implies a break of 0.6200 support (Dec 18 low) and may be a decline to 0.6170 (Dec 14 low, MA (200) H1).
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