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- NZD/USD is trading near a 5-month high
NZD/USD is trading near a 5-month high
Today, the NZD/USD pair is trading in the range of 0.6275-0.6310 - near a new 5-month high. On the hourly chart, the pair moved above the MA (200) H1 moving average line (0.6220) and remains above the MA (200) H4 (0.6095) on the four-hour chart. Technically speaking, the resistance at 0.6315 may keep prices from rising. If this level is passed, the pair could rise to 0.6345. The lower boundary of 0.6200 represents a strong support level.
Resistances are at the marks: 0.6315, 0.6345, 0.6410
An alternative scenario: 0.6275, 0.6240, 0.6200
The main scenario of the pair suggests a break of resistance at 0.6315 (July 19 highs) and maybe a rise to 0.6345 (July 18 high)
The alternative scenario implies a break of the session low of 0.6275 and may be a decline to 0.6240 (Dec 21 low).
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