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- NZD/USD is testing MA (200) H1
NZD/USD is testing MA (200) H1
Today, the NZD/USD pair is trading in the range of 0.5860-85 - 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 (0.5895) and on the four-hour chart remains below MA (200) H4 (0.5995). Technically speaking, the support of 0.5860 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: 0.5860, 0.5735, 0.5770
The main scenario of the pair's movement assumes a breakout of the session minimum of 0.5860 and may be a decrease to 0.5835 (Nov 18 low)
An alternative scenario implies a breakout of the resistance of 0.5920 (Nov 20 high) and there may be an increase to 0.5950 (Nov 13 high)
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