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- The NZD / USD pair is trading near a three-week low
The NZD / USD pair is trading near a three-week low
Today, the NZD/USD pair is trading in the range of $0.7000-55-about a three-week low. On the hourly chart, the pair has fallen below the moving average line MA (200) H1 ($0.7085), but on the four-hour chart it is testing MA (200) H4 ($0.7025). Technically speaking, a strong support level of $0.7000 can keep prices from further decline. The upper limit of $0.7055 represents the resistance level. The most likely range of the pair's movement for today may be hidden within the range of $0.7000-55.
⦁ Resistance levels are: $0.7055, $0.7085, $0.7135
⦁ Support levels are: $0.7000, $0.6930, $0.6880
The main scenario for the pair's promotion — a break of the session minimum and the psychological level of $0.7000 and there may be a decline to $0.6930 (August 27 low)
An alternative scenario — if the session maximum of $0.7055 is broken, the pair can rise to $0.7085 (September 17 high, MA (200) H1)
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