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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 0.5960-95 after falling yesterday to an almost 3-month low of 0.5940. On the hourly chart, the pair is testing the line of the average MA (200) H1 (0.5995) and on the four-hour chart it remains below MA (200) H1 (0.6135). Technically speaking, the support of 0.5950 keeps the pair from further decline for now. In case of breaking through this level, NZD/USD may fall to 0.5910. In case of a breakout of the strong resistance level of 0.6000, the pair may rise to 0.6035.
Resistances are at the marks: 0.6000, 0.6035, 0.6085
An alternative scenario: 0.5940, 0.5910, 0.5850
The main scenario of the pair's movement assumes a breakout of the support 0.5940 (Oct 31 low) and there may be a decrease to 0.5910 (Aug 6 low)
An alternative scenario implies a breakout of 0.6000 resistance (Oct 30 high) and there may be an increase of 0.6035 (Oct 24 high)
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