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- NZD / USD is trading near the highs of the end of July 2019
NZD / USD is trading near the highs of the end of July 2019
Today, the NZD / USD pair is trading down from $0.6770 to $0.6725, but remains near the highs of the end of July 2019. The pair is trading above the MA (200) H1 moving average line ($0.6665). The situation is similar on the four-hour chart. A strong resistance level of $0.6790 (high of July 18-22, 2019 and September 2 high) may keep the kiwi from further growth. If it breaks through, the pair may soar to $0.6840 (high on April 1, 2019). The lower bound of $0.6720 (August 31 low) represents the support level. If this level is passed, NZD / USD may follow a correction to MA (200) H1 ($0.6665). The most likely range of the pair's movement to date may be hidden within the existing range of $0.6720-90.
⦁ Resistance levels are at: $0.6790, $0.6840, $0.6925
⦁ Support levels are at: $0.6720, $0.6665, $0.6600
The main scenario for the pair's promotion - break through strong resistance of $0.6790 (high of July 18-22, 2019 and September 2 high) and rise to $0.6840 (high of April 1, 2019)
An alternative scenario - support breakout of $0.6720 (August 31 low) and decline to $0.6635-50 (August 19 high, MA (200) H1)
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