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- NZD/USD tests MA (200) H1
NZD/USD tests MA (200) H1
Today, the NZD/USD pair is trading in the range of 0.6080-0.6100 and is testing the MA (200) H1 (0.6095) moving average line on the hourly chart. On the four-hour chart, the pair is trading below the MA (200) H4 (0.6150). Technically speaking, the resistance at 0.6125 may keep prices from rising further. The lower boundary of 0.6040 represents a strong support level.
Resistances are at the marks: 0.6125, 0.6160-75, 0.6205
An alternative scenario: 0.6090, 0.6040-50, 0.5995
The main scenario of the pair suggests a break of the session low of 0.6090 and a possible decline to 0.6040-50 (Feb 5-6 and 13 lows)
The alternative scenario implies a breakout of 0.6125 (high of the US session on Feb 13) and a possible rise to 0.6160-75 (Jan 31, Feb 2 and 9 highs).
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