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- NZD/USD tests MA (200) H1
NZD/USD tests MA (200) H1
Today, the NZD/USD pair is mostly declining from 0.6140 to 0.6010 and is testing the MA (200) H1 (0.6110) moving average line on the hourly chart. On the four-hour chart, the pair remains below the MA (200) H4 (0.6205). Technically speaking, the support at 0.6060 keeps prices from further declines. If this level is passed, the pair could fall to 0.5995. The upper boundary of 0.6170 represents a strong resistance level.
Resistances are at the marks: 0.6170, 0.6205, 0.6280-85
An alternative scenario: 0.6060, 0.5995, 0.5940
The main scenario of the pair movement assumes a break of 0.6060 (Jan 23 low) and may be a decline to 0.5995 (Nov 22 low)
The alternative scenario implies a break of resistance at 0.6170 (Jan 31 highs) and there could be a rise to 0.6205 (high of the U.S. session on Jan 15).
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