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- NZD/USD remains above MA (200) H1
NZD/USD remains above MA (200) H1
Today, the NZD/USD pair is showing a pronounced upward trend on the hourly chart. The price is confidently trading above the MA (200) H1 moving average (0.5750), which is directed upwards, which confirms the dominance of buyers. Steady growth has been observed since April 9, while correction attempts have been limited and have been redeemed at lower levels. At the moment, the price is approaching the resistance at 0.5940, overcoming which will open the way to new local highs. The nearest support is located at 0.5885, and its breakdown downwards may trigger a corrective movement to the area of 0.5750. The MACD indicator shows positive values, although the histogram is gradually decreasing, which may indicate a slowdown in the upward momentum or the formation of consolidation. However, the current dynamics remain bullish.
Resistances are at the marks: 0.5940, 0.5980, 0.6035
An alternative scenario: 0.5885, 0.5750, 0.5625
The main scenario of the pair's movement implies a breakout of the resistance of 0.5940 (April 15 high) and there may be an increase to 0.5980 (Nov 11 high)
An alternative scenario suggests a breakout of 1.5885 (April 16 low), there may be a decline to MA (200) H1 (0.5750)
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