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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 growing in the range of 0.6085-0.6105 and is testing the MA (200) H1 (0.6110) moving average line on the hourly chart. On the four-hour chart, the pair remains below MA (200) H1 (0.6125). Technically speaking, the support of 0.6050 can keep the pair from further decline. In case of breaking through this level, NZD/USD may go down to 0.5980. The upper limit of 0.6155 represents a strong resistance level.
Resistances are at the marks: 0.6135, 0.6155, 0.6220
An alternative scenario: 0.6050-65, 0.5980, 0.5915
The main scenario of the pair's movement assumes a breakout of the support 0.6050-65 (July 2 and 10 lows) and may be a decrease to 0.5980 (May 8 low).
The alternative scenario implies a breakout of 0.6135 (July 11 high) with a likely increase to 0.6155 (July 8 high)
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