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- NZD/USD remains below MA (200) H1
NZD/USD remains below MA (200) H1
Today, the NZD/USD pair is trading in the range of 0.5710-40. There is a downward trend on the hourly chart, confirmed by the fact that the price is trading below the MA (200) H1 moving average line. Growth attempts are encountering resistance in the area of 0.5755-70, where the price previously rolled back down. The nearest support is in the area of 0.5710, the breakdown of which may strengthen the downward movement towards 0.5680. The MACD indicator shows a negative histogram, which indicates the predominance of a bearish impulse. As long as the price remains below the moving average, there is a possibility of further decline.
Resistances are at the marks: 0.5755-70, 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 0.5755-70 (March 21 and 26-27 highs, 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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