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- NZD/USD dropped to a monthly low
NZD/USD dropped to a monthly low
Today, the NZD/USD pair is mainly declining from 0.6130 to 0.6090, reaching a monthly low. On the hourly chart, the pair is testing the MA (200) H1 (0.6125) moving average line. The situation is similar on the four-hour chart. 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 0.6150 represents a strong support level, after breaking through which the pair can rise to 0.6220.
Resistances are at the marks: 0.6150, 0.6220, 0.6285
An alternative scenario: 0.6085, 0.5980, 0.5915
The main scenario of the pair's movement still assumes a breakout of support to 0.6085 (May 20-22 low) and there may be a decrease to 0.5980 (May 8 low)
An alternative scenario implies a breakout of the resistance of 0.6150 (June 18 high) and there may be an increase to 0.6220 (June 12 high)
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