Technical Analysis
18.11.2024, 13:06

NZD/USD is trading near a one-year low

Today, the NZD/USD pair is mainly declining in the range of 0.5835-75 and is trading near an annual low. On the hourly chart, the pair fell below the moving average line MA (200) H1 (0.5930) and on the four-hour chart remains below MA (200) H4 (0.6025). Technically speaking, the support of 0.5770 may keep the pair from further decline. In case of breaking through this level, NZD/USD may fall to 0.5735. The upper limit of 0.5950 represents a strong resistance level.


  • Resistances are at the marks: 0.5885, 0.5950, 0.5980


  • An alternative scenario: 0.5770, 0.5735, 0.5650


The main scenario of the pair's movement assumes a breakout of the support 0.5770 (Oct 26’ 2023 low) and there may be a decrease to 0.5735 (Nov 3’ 2022 low) 

An alternative scenario implies a breakout of the resistance of 0.5885 (Nov 14-15 high) and there may be an increase to 0.5950 (Nov 13 high)

Quotes
Symbol Bid Ask Time
AUDUSD
EURUSD
GBPUSD
NZDUSD
USDCAD
USDCHF
USDJPY
XAGEUR
XAGUSD
XAUUSD

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