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- NZD/USD is trading near a 2-week high
NZD/USD is trading near a 2-week high
Today, the NZD/USD pair is mainly growing from $0.6185 to $0.6260, and is trading near the 2-week high of $0.6265 reached earlier this week. On the hourly chart, the pair rose above the MA (200) H1 moving average line ($0.6170). On the four-hour chart, the pair is testing MA (200) H4 ($0.6265). Technically speaking, the strong resistance level of $0.6265 kept prices from further growth. The lower bound of $0.6140 represents the support level.
Resistances are at the marks: $0.6265-75, $0.6310, $0.6390
An alternative scenario: $0,6170, $0,6140, $0,6085-90
The main scenario of the pair's movement assumes a breakout of the resistance of $0.6265-75 (March 1, 13 and 15 highs) and there may be an increase to $0.6310 (March 16 high).
An alternative scenario implies a breakout of MA (200) H1 ($0.6170) and there may be a decline to $0.6140 (March 16 low).
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