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- NZD/USD is trading near a 3-month high.
NZD/USD is trading near a 3-month high.
Today, the NZD/USD pair is trading in the range of 0.6180-0.6215, having reached a 3-month high since the beginning of trading. On the hourly chart, the pair rose above the moving average line MA (200) H1 (0.6155) and on the four-hour chart above MA (200) H4 (0.6050). Technically speaking, the resistance of 0.6215 may keep the pair from further growth. If it breaks through, the pair may rise to 0.6285. The lower bound of 0.6055 represents a strong support level.
Resistances are at the marks: 0.6215, 0.6280-85, 0.6370
An alternative scenario: 0.6155, 0.6085, 0.5980
The main scenario of the pair's movement assumes a breakout of the resistance of 0.6215 (March 8 high, session maximum) and there may be an increase to 0.6280-85 (Jan 4-5 and 12 highs)
An alternative scenario implies a breakout of support 0.6155 (June 4 low, MA (200) H1) and there may be a decrease to 0.6085 (May 21-22 low)
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