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- NZD/USD remains above the H1 MA (200).
NZD/USD remains above the H1 MA (200).
The NZD/USD pair is trading in the 0.6165-80 range today after rising on Friday to a 3-week high of 0.6220. On the hourly chart, the pair moved slightly above the MA (200) H1 (0.6115) moving average line. On the four-hour chart, the situation is similar. Technically speaking, the resistance at 0.6220 may keep prices from further growth. If it is broken, the pair may rise to 0.6280. The lower boundary of 0.6070 represents a strong support level.
Resistances are at the marks: 0.6220, 0.6280-85, 0.6320
An alternative scenario: 0.6160, 0.6115, 0.6070
The main scenario of the pair implies a break of resistance at 0.6220 (Feb 22 and March 8 highs) and a possible rise to 0.6280-85 (Jan 4-5 and 11 highs)
The alternative scenario implies a break of support 0.6160 (March 8 low) and MA (200) H1 (0.6115) and may be down to 0.6070 (March 6 low).
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