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- NZD/USD remains below MA (200) H1
NZD/USD remains below MA (200) H1
Today, the upward momentum is fading and the transition to a sideways correction is observed on the hourly chart of NZD/USD. After steady growth, which ended near the resistance level of 0.6000, the price began to decline smoothly and is currently fixed below the moving average of MA (200) H1, which signals a possible change in the short-term trend to a downward one. At the same time, the moving average line gradually turns downwards, reinforcing the bearish signal. The MACD indicator is also below the zero line, confirming the presence of a downward momentum, while the histogram shows weak recovery attempts that have not yet led to a reversal. Overall, the technical picture points to consolidation with a downward bias, and the current price position below key resistance levels increases the likelihood of further declines in the short term.
Resistances are at the marks: 0.5950-65, 0.6000, 0.6030
An alternative scenario: 0.5885, 0.5830, 0.5755
The main scenario of the pair's movement implies a breakout of 1.5885 (April 16 low) and there may be a decline to 0.5830 (April 14 low)
An alternative scenario assumes a breakout of 0.5950-65 (April 30 high, session maximum, MA (200) H1) and there may be an increase to 0.6000 (April 24-25 high)
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