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- NZD/USD is trading near its highest value since the beginning of the year.
NZD/USD is trading near its highest value since the beginning of the year.
Today, the NZD/USD pair is trading in the range of 0.6225-55 - near the maximum value since the beginning of the year of 0.6240. On the hourly chart, the pair rose above the average line MA (200) H1 (0.6155) and on the four-hour chart above MA (200) H1 (0.6030). In this situation, a scenario of further growth of NZD/USD is likely. Technically speaking, the resistance of 0.6255 keeps the pair from further growth for now. In case of breaking through this level, NZD/USD may rise to 0.6285. The lower bound of 0.5975 represents a strong support level.
Resistances are at the marks: 0.6255, 0.6285, 0.6370
An alternative scenario: 0.6130, 0.5975, 0.5910
The main scenario of the pair's movement assumes a breakout of the resistance of 0.6255 (Aug 27 high) and there may be an increase to 0.6285 (Jan 4 high).
An alternative scenario implies a breakout of the support 0.6130 (Aug 21-22 low) and may be a decrease to 0.5975 (Aug 8 and 15 low).
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