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- NZD/USD is moving sideways
NZD/USD is moving sideways
Today, the NZD/USD pair is mainly growing in the range of 0.5710-50. On the hourly timeframe, the pair is consolidating below the resistance level of 0.5765, which coincides with the 200-period moving average. The upward momentum has weakened and the price is moving sideways between the 0.5710 support and 0.57631 resistance. The MACD indicator shows weak bullish dynamics, which indicates a possible increase towards the nearest resistance. However, to confirm the upward movement, it is necessary to break through the 0.5765 level. In the case of a downward pullback, the nearest support is at 0.5710, and a stronger one is at 0.5680. The overall trend remains uncertain until the price solidifies above or below key levels.
Resistances are at the marks: 0.5765-70, 0.5830, 0.5890
An alternative scenario: 0.5710, 0.5680, 0.5635
The main scenario of the pair's movement implies a breakout of 0.5765-70 (March 21 high, МА (200) Н1) and there may be an increase to 0.5830 (March 18 high)
An alternative scenario suggests a breakout of the support 0.5710 (March 24-25 low) and a possible decline to 0.5680 (March 11 low)
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