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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 0.5980-0.6040 - slightly below the 3-week high of 0.6080 reached this week. On the hourly chart, the pair tests the line of the average MA (200) H1 (0.6005) and on the four-hour chart it tests MA (200) H1 (0.6015). Technically speaking, the resistance of 0.6080 has so far kept the pair from further growth. In case of breaking through this level, NZD/USD may rise to 0.6155. The 0.5975 support has kept the pair from declining so far. The lower bound of 0.5910 represents a strong support level.
Resistances are at the marks: 0.6080, 0.6155, 0.6220
An alternative scenario: 0.5980, 0.5910, 0.5850
The main scenario of the pair's movement assumes a breakout of the resistance of 0.6080 (Aug 14 high) and there may be an increase to 0.6155 (July 8 high).
The alternative scenario implies a decrease to 0.5980 (Aug 8 low) with a likely subsequent decrease to 0.5910 (Aug 6 low)
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