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- NZD/USD is declining and testing MA (200) H1
NZD/USD is declining and testing MA (200) H1
Today, the NZD/USD pair is mainly declining from $0.6250 to $0.6180 and is testing the MA (200) H1 moving average line ($0.6195) on the hourly chart. On the four-hour chart, the pair is testing MA (200) H4 ($0.6240). Technically speaking, a strong support level of $0.6140 may keep prices from further decline. The upper limit of $0.6280 represents the resistance level.
Resistances are at the marks:$0.6280, $0.6310, $0.6390
An alternative scenario: $0,6180, $0,6140, $0,6085-90
The main scenario of the pair's movement assumes an increase of $0.6280 (March 20 highs).
An alternative scenario implies a breakout of the session minimum of $0.6180 and there may be a decline to $0.6140 (March 16 low).
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