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- NZD/USD is trading near the lows of early November 2020
NZD/USD is trading near the lows of early November 2020
Today, the NZD/USD pair is trading in the range of $0.6680-0.6700 - near the low of the beginning of November 2020, reached yesterday. On the hourly chart, the pair dropped below the MA (200) H1 moving average line ($0.6750). The situation is similar on the four-hour chart. In this situation, a scenario of further decline of the NZD/USD pair is likely and finding a sell position may be a wise decision.
⦁ Resistance levels are: $0.6735-50, $0.6820, $0.6875-90
⦁ Support levels are: $0.6660, $0.6590-0.6610, $0.6550
The main scenario for the pair's promotion — support breakthrough of $0.6660 (January 24-25 low) and there may be a decline to $0.6590-0.6610 (November 2 and 4’ 2020 lows)
An alternative scenario — correction and there may be an increase to $0.6735-50 (high of the American session on January 21, MA (200) H1)
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