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- NZD/USD fell to a one-week low.
NZD/USD fell to a one-week low.
The NZD/USD pair is down from 0.6180 to 0.6090 today, hitting a one-week low. The pair broke the 0.6085 support, which was the nearest resistance. On the hourly chart, the pair is testing the MA (200) H1 (0.6160) moving average line and on the four-hour chart, the MA (200) H4 (0.6130). Technically speaking, the support at 0.6085 may keep prices from further declines. In case of its breakdown, the pair may fall to 0.6040. The upper boundary of 0.6220 represents a strong resistance level.
Resistances are at the marks: 0.6130, 0.6180, 0.6220
An alternative scenario: 0.6085, 0.6040-50, 0.5995
The main scenario of the pair implies a break of support at 0.6085 (Feb 16 low) and there could be a decline to 0.6040-50 (Feb 5-6 and 13 lows).
The alternative scenario implies a break of resistance at 0.6130 (Feb 22 low) and may be a rise to 0.6180 (Feb 27 high, session high).
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