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