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- NZD/USD rose to a 2-week high
NZD/USD rose to a 2-week high
Today, the NZD/USD pair is mainly growing from 0.5605 to 0.5680, reaching a 2-week high. On the hourly chart, NZD/USD is testing the moving average line, MA (200) H1 (0.5625) has decreased, but on the four-hour chart it remains below MA (200) H4 (0.5775). Based on the above, it is probably worth sticking to the southern direction in trading and until the pair gains a foothold above the MA 200 H1, it is necessary to look for entry points to sell at the end of the correction. Technically speaking, the resistance of 0.5640 may keep the pair from further growth. If this level is breached, the NZD/USD may rise to 0.5795. The lower limit of 0.5585 represents a strong support level.
Resistances are at the marks: 0.5670, 0.5755, 0.5820
An alternative scenario: 0.5740, 0.5795, 0.5820
The main scenario of the pair's movement assumes a breakout of the support of MA (200) H1 (0.5625) and there may be a decline to 0.5585 (Jan 2 low)
An alternative scenario implies a breakout of the resistance of 0.5640 (high of the American session on Dec 18) and there may be an increase to 0.5795 (Dec 17 high)
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