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- NZD/USD is trading near a 2-week high.
NZD/USD is trading near a 2-week high.
Today, the NZD/USD pair is trading in the range of 0.5940-85 - about a 2-week high. On the hourly chart, NZD/USD rose slightly above the moving average line MA (200) H1 (0.5930), but on the four-hour chart it remains below MA (200) H4 (0.5990). Technically speaking, 0.6015 resistance can keep prices from rising further. If it breaks through, the pair may rise to 0.6045. The lower bound of 0.5850 represents a strong support level.
Resistances are at the marks: 0.5985, 0.6015, 0.6045
An alternative scenario: 0.5920-30, 0.5850, 0.5775-90
The main scenario of the pair's movement assumes a decrease to 0.5920-30 (April 24-26 low, MA (200) H1) and then, maybe, to 0.5850 (April 19 low)
An alternative scenario implies a breakout of the session high of 0.5985 and may be an increase to 0.6015 (April 11 high)
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