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- NZD/USD is trading near a weekly low
NZD/USD is trading near a weekly low
Today, the NZD/USD pair is trading in the range of 0.6115-35 - slightly above the weekly low of 0.6100. On the hourly chart, the pair fell below the moving average line MA (200) H1 (0.6155), but on the four-hour chart it remains above MA (200) H4 (0.6070). Technically speaking, the 0.6085 support can keep the pair from declining. If it breaks through, the pair may drop to 0.5980. The upper limit of 0.6215 represents a strong resistance level
Resistances are at the marks: 0.6135, 0.6155, 0.6215
An alternative scenario: 0.6085-0.6100, 0.5980, 0.5915
The main scenario of the pair's movement assumes a breakout of resistance 0.6135 (June 10 high, session maximum) and MA (200) H1 (0.6155) and there may be an increase to 0.6215 (March 8 and June 6 high)
An alternative scenario implies a breakout of the support 0.6085-0.6100 (May 21-22 and June 10 lows) and there may be a decrease to 0.5980 (May 8 low)
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