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- NZD/USD trades near 2-week high
NZD/USD trades near 2-week high
Today, the pair NZD/USD is trading in the range of $0.6085-0.6120 - near the 2-week high. On the hourly chart, the pair rose slightly above the MA (200) H1 moving average line ($0.6060). On the four-hour chart, the pair remains below the MA (200) H4 ($0.6175). Technically speaking, the resistance level of $0.6180 may keep the pair from further growth. The lower boundary of $0.6030 represents a support level.
Resistances are at the marks: $0.6110, $0.6180, $0.6255
An alternative scenario: $0.6030, $0.5985, $0.5840
The basic scenario of the pair movement assumes the break-through of the session minimum of $0.6085 and may be the decrease to $0.6030 (June 7-8 low).
An alternative scenario calls for the breakthrough of $0.6180 resistance (May 12 low) and growth to $0.6255 (May 24 highs) is possible.
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