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- NZD/USD rose to a 2-week high
NZD/USD rose to a 2-week high
Today, the NZD/USD pair is mainly growing from 0.5950 to 0.6015, reaching a 2-week high. On the hourly chart, the pair rose slightly above the average MA (200) H1 (0.5930) line. The pair retreated further from the 3-month low of 0.5850 reached this week and last week. On the four-hour chart, the pair remains below MA (200) H1 (0.6035). Technically speaking, the resistance of 0.6035 can keep the pair from further growth. In case of breaking through this level, NZD/USD may rise to 0.6100. The lower bound of 0.5850 represents a strong support level.
Resistances are at the marks: 0.6035, 0.6100, 0.6155
An alternative scenario: 0.5910-30, 0.5850, 0.5775-90
The main scenario of the pair's movement assumes a decrease to 0.5910-30 (Aug 6 low, MA (200) H1) and then, maybe, to 0.5850 (Aug 5 low).
An alternative scenario implies a breakout of 0.6035 resistance (July 16 low) with a likely rise to 0.6100 (July 17 high).
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