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- NZD/USD trades below MA (200) Н1
NZD/USD trades below MA (200) Н1
Today, the NZD/USD pair is mostly down from 0.6260 to 0.6210 and remains below the MA (200) H1 moving average line (0.6285) on the hourly chart, but trades above the MA (200) H4 (0.6190) on the four-hour chart. Technically speaking, 0.6170 support could keep prices from further declines. If this level is passed, the pair could fall to 0.6085. The upper boundary of 0.6285 represents a strong resistance level.
Resistances are at the marks:0.6285, 0.6320, 0.6370
An alternative scenario: 0.6170-80, 0.6085, 0.6060
The main scenario of the pair suggests a rise to 0.6285 (Jan 4 high, MA (200) H1) and may be a rise to 0.6320 (Jan 2 high).
The alternative scenario implies a break of the support at 0.6170-80 (Dec 14-15 and Jan 5 lows) and there could be a decline to 0.6085 (Dec 13 low)
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