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- NZD/USD is testing MA (200) H1
NZD/USD is testing MA (200) H1
Today, the NZD/USD pair is mainly declining from 0.6170 to 0.6120 and on the hourly chart, the pair is testing the MA (200) H1 (0.6165) moving average line. On the four-hour chart, the pair remains above MA (200) H4 (0.6090). Technically speaking, the support of 0.6085 can keep the pair from further decline. If this level is broken, NZD/USD may fall to 0.5980. The upper limit of 0.6220 represents a strong resistance level.
Resistances are at the marks: 0.6160, 0.6220, 0.6285
An alternative scenario: 0.6085-0.6100, 0.5980, 0.5915
The main scenario of the pair's movement assumes an increase to MA (200) H1 (0.6160) and beyond that, it may be to 0.6220 (June 12 high)
An alternative scenario implies a breakout of the area 0.6085-0.6100 (May 22-24 and June 10 lows) and there may be a decrease to 0.5980 (May 10 low)
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