Technical Analysis
17.07.2024, 12:17

NZD/USD is growing and testing the strength of MA (200) H1

Today, the NZD/USD pair is mainly growing from 0.6035 to 0.6100 and is testing the strength of the MA (200) H1 (0.6100) moving average line on the hourly chart. On the four-hour chart, the pair remains below MA (200) H1 (0.6120). Technically speaking, the resistance of 0.61.05 may keep the pair from further growth. If this level is broken, NZD/USD may rise to 0.61.55. The lower limit of 0.6035 represents a strong support level.


  • Resistances are at the marks: 0.6105, 0.6155, 0.6220


  • An alternative scenario:  0.6035, 0.5980, 0.5915



The main scenario of the pair's movement still assumes a decrease to 0.6035 (July 16 low) and then, maybe, to 0.5980 (May 8 low).

The alternative scenario implies a breakout of 0.6105 (July 15 high) with a likely increase to 0.6155 (July 8 high)

Quotes
Symbol Bid Ask Time
AUDUSD
EURUSD
GBPUSD
NZDUSD
USDCAD
USDCHF
USDJPY
XAGEUR
XAGUSD
XAUUSD

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