Technical Analysis
23.09.2022, 12:17

NZD/USD is trading near the lows of March 2020

Today, the NZD/USD pair is mainly declining from $0.5855 to $0.5760, having reached new lows in March 2020. On the hourly chart, the pair dropped below the MA (200) H1 moving average line ($0.5940). On the four-hour chart, NZD/USD remains below MA (200) H4 ($0.6135). Technically speaking, the support of $0.5770 can keep prices from further decline. The upper limit of $0.5975 represents the resistance level.


  • Resistances are at the marks: $0.5890-0,5910, $0,5975, $0,6025


  • An alternative scenario:  $0,5770, $0,5585, $0,5470


The main scenario of the pair's movement assumes a breakout of the session minimum of $0,5770 and there may be a decline to $0.5585 (March 23’ 2020 low)

An alternative scenario for the pair's promotion implies a breakout of the resistance of $0.5890-0,5910 (September 21-22 highs) and there may be an increase to $0.5975 (September 20 high)

Quotes
Symbol Bid Ask Time
AUDUSD
EURUSD
GBPUSD
NZDUSD
USDCAD
USDCHF
USDJPY
XAGEUR
XAGUSD
XAUUSD

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