NZD/USD is testing MA (200) H1

Downward pressure prevails on the hourly chart of NZD/USD today. After reaching a local maximum around 0.6030, the pair gradually declined, failing to gain a foothold above the key resistance of 0.6000. Recent sessions have been characterized by a breakdown of the 0.5970 support level and attempts to retest it, but the bulls have failed to bring the price back above this level. The moving average, presumably MA (200) H1, has turned down and is now acting as a dynamic resistance, limiting upward corrections. The MACD indicator is in the negative zone and shows a continuation of a weak downward momentum, which confirms the bearish mood in the market. The nearest support is located around 0.5925; its breakdown may increase the pressure on the pair with a target at lower levels. When trying to recover, the first growth target will be the 0.5970 zone, and further resistance is near 0.6000. In general, the technical picture indicates the predominance of sellers, while short-term upward correction attempts are possible.

Resistances are at the marks: 0.5970, 0.6000, 0.6030

An alternative scenario: 0.5925, 0.5885, 0.5830

The main scenario of the pair's movement implies a breakout of the session high of 0.5970 and there may be an increase to 0.6000 (April 24-25 high)

An alternative scenario suggests a breakout of 1.5925 (April 18 low) and a possible decline to 0.5885 (April 16 low)