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- NZD/USD fell to a monthly low
NZD/USD fell to a monthly low
Today, the NZD/USD pair is declining from $0.6260 to $0.6115, reaching a monthly low. The pair broke through the support of $0.6180, which became the nearest resistance. On the hourly chart, NZD/USD is testing the MA (200) H1 moving average line ($0.6240). The situation is similar on the four-hour chart. Technically speaking, the support level of $0.6110 may keep the pair from further decline. The upper limit of $0.6260 represents the resistance level.
Resistances are at the marks: $0.6180, $0.6260, $0.6305
An alternative scenario: $0.6110, $0.6085, $0.6055
The main scenario of the pair's movement assumes a breakout of the support of $0.6110 (April 26 low) and there may be a decline to $0.6085 (March 8 low)
An alternative scenario implies a breakout of the resistance of $0.6180 (May 12 low) and there may be an increase to the session maximum of $0.6260
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