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- NZD/USD dropped below MA (200) H1
NZD/USD dropped below MA (200) H1
Today, the NZD/USD pair is mainly declining from 0.6140 to 0.6095 and has dropped slightly below the MA (200) H1 (0.6150) moving average line on the hourly chart. On the four-hour chart, the pair is testing MA (200) H4 (0.6100). 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: 0.6140-50, 0.6220, 0.6285
An alternative scenario: 0.6085, 0.5980, 0.5915
The main scenario of the pair's movement assumes a breakout of the support 0.6085 (May 22-24 low) and there may be a decrease to 0.5980 (May 10 low)
An alternative scenario implies an increase to 0.6140-50 (June 17 high, MA (200) H1) and beyond that, it may be to 0.6220 (June 12 high)
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