NZD/USD tests MA (200) H1

Today, the hourly chart of NZD/USD shows consolidation in a narrow range between the support levels of 0.5925 and resistance levels of 0.6000. The price fluctuates near the MA (200) H1 moving average, which indicates the absence of a pronounced trend and the dominance of a sideways movement. The moving average has also leveled off, which confirms the uncertainty phase. At 0.5955, the price is almost at the moving average line, demonstrating the weakness of momentum in both directions. The MACD indicator hovers near the zero line with alternating weak signals, which indicates a lack of confident pressure from buyers or sellers. From a technical point of view, an upward breakdown of the 0.6000 level may lead to an acceleration of the upward movement with a target of 0.6030. At the same time, a breakdown of the 0.5925 support will open the way to a decline, reinforcing the bearish scenario. While there are no such signals, the pair remains in the waiting phase and requires confirmation of the direction.

Resistances are at the marks: 0.6000, 0.6030, 0.6060

An alternative scenario: 0.5925, 0.5885, 0.5830

The main scenario of the pair's movement implies a breakout of the resistance 0.6000 (April 24-25 high) and there may be an increase to 0.6030 (April 22 high)

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