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- NZD/USD shows a downward trend
NZD/USD shows a downward trend
Today, the NZD/USD pair is trading around 0.5720, showing a downward trend after reaching a local maximum near 0.5830. The price is below the MA (200) H1 moving average line, which indicates a predominance of bearish sentiment. The nearest support is located at 0.5720, the breakdown of which may lead to a further decline in the area of 0.5680 and 0.5635. The resistance is at 0.5760, and the more significant barrier is 0.5770. The MACD indicator shows weak bearish dynamics, which indicates a possible continuation of the decline, but a short-term pullback towards resistance is also likely.
Resistances are at the marks: 0.5760-70, 0.5830, 0.5890
An alternative scenario: 0.5720, 0.5680, 0.5635
The main scenario of the pair's movement implies a breakout of 0.5760-70 (March 21 high, MA (200) H1) and there may be an increase of 0.5830 (March 18 high)
An alternative scenario suggests a breakout of the session low of 0.5720 and there may be a decline to 0.5680 (March 11 low)
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