Technical Analysis
26.05.2023, 12:18

NZD/USD fell to a 6-month low

Today, the NZD/USD pair is mainly growing from $0.6050-95, but it remains around a 6-month low. The pair broke through the support of $0.6180, which became the nearest resistance. On the hourly chart, NZD/USD dropped below the MA (200) H1 moving average line ($0.6205). The situation is similar on the four-hour chart. Technically speaking, the support level of $0.6045 may keep the pair from further decline. The upper limit of $0.6255 represents the resistance level.

  • Resistances are at the marks: $0.6115, $0.6180, $0.6255

  • An alternative scenario: $0.6045, $0.5985, $0.5840

The main scenario of the pair's movement assumes a breakout of the support of $0.6045 (May 25 low) and there may be a decline to $0.5985 (November 11’ 2022 low)

The alternative scenario implies an increase to $0.6255 (May 24 high)

Symbol Bid Ask Time

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