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- NZD/USD is trading near a 2-month low
NZD/USD is trading near a 2-month low
Today, the NZD/USD pair is trading in the 0.6045-80 range - near 2-month low. On the hourly chart, the pair fell below the MA (200) H1 (0.6115) moving average line. On the four-hour chart, the pair remains below the MA (200) H4 (0.6200). Technically speaking, the support at 0.5995 may keep prices from further declines. If this level is passed, the pair could fall to 0.5940. The upper boundary of 0.6175 represents a strong resistance level.
Resistances are at the marks: 0.6115, 0.6175, 0.6205
An alternative scenario: 0.5995, 0.5940, 0.5860
The main scenario of the pair movement implies a decline to 0.5995 (Nov 22 low)
The alternative scenario implies a break of MA (200) H1 (0.6115) and maybe growth to 0.6175 (Jan 31 high).
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