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- NZD/USD has fallen to a 4-month low
NZD/USD has fallen to a 4-month low
The NZD/USD pair is mostly down from 0.6085 to 0.6035 today, hitting a 4-month low. On the hourly chart, the pair fell slightly below the MA (200) H1 (0.6140) moving average line. On the four-hour chart, the situation is similar. Technically speaking, the support at 0.6035 may keep prices from further decline. In case of its breakdown, the pair may fall to 0.5995. The upper boundary of 0.6100 represents a strong resistance level.
Resistances are at the marks: 0.6100, 0.6140, 0.6175-85
An alternative scenario: 0.6035, 0.5995, 0.5940
The main scenario of the pair suggests a breakout of the session low of 0.6035 and may be a decline to 0.5995 (Nov 22 low)
The alternative scenario implies a rise to 0.6100 (March 18 high) and may be a rise to 0.6175-85 (March 11-12 and 14 highs).
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