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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 declining from 0.5920 to 0.5870, having lost all the positions gained yesterday. The pair remains slightly above the annual low of 0.5835 reached on Monday. On the hourly chart, the pair tests the moving average line MA (200) H1 (0.5910) and on the four-hour chart remains below MA (200) H4 (0.6005). Technically speaking, the support of 0.5870 keeps the pair from further decline for now. 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: 0.5920, 0.5950, 0.5980
An alternative scenario: 0.5870, 0.5735, 0.5770
The main scenario of the pair's movement assumes a breakout of the session minimum of 0.5870 (Nov 19 low) and may be a decrease to 0.5835 (Nov 18 low)
An alternative scenario implies a breakout of the session maximum of 0.5920 and may be an increase to 0.5950 (Nov 13 high)
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