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- NZD/USD is rising, but remains below MA (200) H1
NZD/USD is rising, but remains below MA (200) H1
Today, since the start of trading, the NZD/USD pair has fallen to a 10-day low of 0.5805, but during the European session it rose to 0.5870. On the hourly chart, NZD/USD remains slightly below the moving average line, MA (200) H1 (0.5880) decreased and on the four-hour chart below MA (200) H4 (0.5920). Technically speaking, the resistance of 0.5890 may keep the pair from further growth. In case of breaking through this level, NZD/USD may rise to 0.5930. The lower bound of 0.5800 represents a strong support level. The most likely range of movement of the pair for today may be hidden within the existing range of 0.5800-90.
Resistances are at the marks: 0.5890, 0.5930, 0.5980
An alternative scenario: 0.5800-05, 0.5775, 0.5735
The main scenario of the pair's movement assumes a decrease to 0.5800-05 (November 26 low, session minimum) and then, maybe, to 0.5775 (October 26’ 2023 low)
An alternative scenario implies a breakout of the resistance of 0.5890 (Dec 6 high) and there may be an increase to 0.5930 (Nov 29 high)
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