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- NZD/USD remains under pressure
NZD/USD remains under pressure
The NZD/USD pair is trading under pressure on the hourly chart today. The price remains below the MA (200) H1 moving average, which indicates a predominance of bearish sentiment. The attempt at growth in the area of 0.5930 was limited by this average, and now the price has again gone down to the area of 0.5910. The nearest support is at 0.5880, and in case of its breakdown, we can expect a move to 0.5860 and 0.5845. The MACD indicator shows weak positive dynamics, but the histogram begins to shrink, which may signal the beginning of a new downward momentum. In general, as long as the price remains below the moving average and the 0.5930 level is not broken up, there remains a risk of a resumption of decline.
Resistances are at the marks: 0.5930, 0.5970-75, 0.6020
An alternative scenario: 0.5880, 0.5845-60, 0.5755
The main scenario of the pair's movement implies a decline to 0.5880 (May 19 low) and then, perhaps, to 1.5845-60 (May 12-13 and 15 lows)
An alternative scenario suggests a breakout of the session high of 0.5930 (May 19 high) and there may be an increase to 0.5970-75 (May 8 and 14 highs)
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