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- NZD/USD remains above MA (200) H1
NZD/USD remains above MA (200) H1
Today, on the hourly chart, the NZD/USD pair showed a strong upward momentum, which ended after reaching the resistance level of 0.6030. From that moment, the correction began, and the price dropped below the level of 0.6005, continuing to move down to the current values near 0.5955. The nearest support is at 0.5930, where the MA (200) H1 moving average also runs, which makes this zone a key one for short-term dynamics. A break below may open the way to 0.5890. The MACD indicator shows a decrease in the histogram and a transition to the negative zone, which confirms the dominance of the bears and the weakening of the bullish momentum. As long as the price remains below 0.6005, the selling pressure will remain, despite the possibility of a technical suspension of the decline near the 0.5930 zone.
Resistances are at the marks: 0.6005, 0.6030, 0.6060
An alternative scenario: 0.5930, 0.5890, 0.5860
The main scenario of the pair's movement implies a correction, an increase to the session high of 0.6005 and beyond that, maybe to 1.6030 (May 26 maximum)
An alternative scenario assumes a breakout of MA (200) H1 (0.5930) and there may be a decline to 0.5890 (minimum on May 22)
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