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- NZD/USD fell below the MA (200) Н1.
NZD/USD fell below the MA (200) Н1.
Today, the NZD/USD pair is mostly down from 0.6280 to 0.6230, further retreating from the 5.5-month high of 0.6370 reached last week. On the hourly chart, the pair has dipped below the MA (200) H1 moving average line (0.6300) , but on the four-hour chart it is trading above the MA (200) H4 (0.6165). Technically speaking, the support at 0.6200 may keep prices from further declines. If this level is passed, the pair could fall to 0.6170. The upper boundary of 0.6370 represents a strong resistance level.
Resistances are at the marks: 0.6280, 0.6320, 0.6370
An alternative scenario: 0.6200, 0.6170, 0.6085
The main scenario of the pair movement implies a break of the session maximum at 0.6280 and may be a rise to 0.6320 (January 2 high)
The alternative scenario implies a break of the support at 0.6200 (Dec 18 low) and a possible decline to 0.6170 (Dec 14 low).
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