- Analytics
- Market analysis
- Technical Analysis
- The NZD/USD pair fell to a two-week low
The NZD/USD pair fell to a two-week low
Today, the NZD/USD pair fell sharply from $0.7200 to a two-week low of $0.7115. The pair broke through the support of $0.7150, which became the nearest resistance. On the hourly chart, the pair is trading below the moving average line MA (200) H1 ($0.7200), but on the four-hour chart it remains above MA (200) H4 ($1.7105). Technically speaking, the support of MA (200) H4 ($1.7105) may keep prices from falling further. If it breaks through, prices may drop to $0.7070. The upper limit of $0.7205-10 represents a strong resistance level. The most likely range of the pair's movement for today may be hidden within the range of $0.7105-$0.7210
⦁ Resistance levels are: $0.7150, $0.7205-10, $0.7255
⦁ Support levels are: $0.7070, $0.7000, $0.6945
The main scenario for the pair's promotion - correction and may be an increase to $0.7205-10 (May 3 high, MA (200) H1)
An alternative scenario - a break of the support of $0.7070 (April 5-9 high) and may be a decline to $0.7000 (April 13 low)
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