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- NZD/USD Rose to near 6-month High
NZD/USD Rose to near 6-month High
Today, on the hourly chart, the NZD/USD pair continues to grow, reaching an almost 6-month high. The price consistently updates local highs, trading well above the MA (200) H1 moving average (0.5840), which confirms the predominance of bullish sentiment in the market. In recent hours, the price broke through the important resistance level of 0.5980 and came close to the next resistance at 0.6040. A hold above the 0.5980 level may serve as a signal for continued growth. The MACD indicator shows a steady growth of the histogram in the positive zone, which confirms the presence of an upward momentum. The crossing of the signal line from bottom to top also speaks in favor of buyers. So far, there are no signs of a slowing trend or divergence.
Resistances are at the marks: 0.6040, 0.6060, 0.6085
An alternative scenario: 0.5980, 0.5925, 0.5830
The main scenario of the pair's movement implies a breakout of the resistance of 0.6040 (Nov 7 high) and there may be an increase to 0.6060 (Oct 22 high)
An alternative scenario suggests a breakout of 1.5980 (April 17 high), a decline to 0.5925 (April 18 low) and then maybe to 0.5830 (April 14 low)
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