NZD/USD tests MA (200) H1

There is an upward movement on the NZD/USD hourly chart today after a steady rebound from the 0.5885 support level. The price has overcome the MA (200) H1 moving average and is consolidating higher, which indicates the restoration of bullish momentum. The pair is currently approaching resistance at 0.6000, and in case of a breakdown, the next target may be the 0.6030 area. In case of correction, the support level is 0.5940, which coincides with the MA (200) H1 line, and its retention will confirm the continuation of the uptrend. The MACD indicator is in the positive zone, the histogram is growing, which indicates the dominance of buyers and the strengthening of the upward momentum. If the price fails to overcome the 0.6000 level and begins to decline with a downward reversal of the MACD, this may signal the beginning of a short-term correction to the nearest support levels. In the meantime, the overall picture remains bullish, provided the price remains above MA (200) H1.

Resistances are at the marks:0.5955, 0.6000, 0.6030

An alternative scenario: 0.5940, 0.5885, 0.5830

The main scenario of the pair's movement implies a breakout of 1.6000 (April 24-25 high) and there may be an increase to 0.6030 (April 22 high)

An alternative scenario suggests a breakout of the session low of 0.5940 and there may be a decline to 0.5885 (April 16 low)