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- NZD/USD is trading near a 10-day high
NZD/USD is trading near a 10-day high
Today, the NZD/USD pair is trading in the range of 0.5890-0.5915 - near the 10-day high of 0.5930 reached on Friday. On the hourly chart, NZD/USD rose slightly above the moving average line and MA (200) H1 (0.5870) decreased. On the four-hour chart, the pair remains below MA (200) H4 (0.5950). Technically speaking, the resistance of 0.5930 has so far kept the pair from further growth. In case of breaking through this level, NZD/USD may rise to 0.5980. The lower bound of 0.5800 represents a strong support level.
Resistances are at the marks: 0.5930, 0.5980, 0.6035
An alternative scenario: 0.5870-80, 0.5800, 0.5775
The main scenario of the pair's movement assumes a breakout of the support 0.5870-80 (Nov 28 low, MA (200) H1) and there may be a decrease to 0.5800 (Nov 26 low)
An alternative scenario implies a breakout of the resistance of 0.5930 (Nov 29 high) and there may be an increase to 0.5980 (Nov 11 high)
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