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- NZD/USD remains above MA (200) H1
NZD/USD remains above MA (200) H1
On the hourly chart, the NZD/USD pair, after reaching a local maximum around 0.6030, began a corrective decline, which stopped near the support level of 0.5925, where the MA (200) H1 moving average also passes. After rebounding from this area, the price is trying to recover, trading near the 0.5965 mark. The MACD indicator shows the formation of a bullish divergence and the transition of the histogram to a positive area, which confirms the attempt of buyers to seize the initiative. However, the lack of stability above 0.5980 limits the growth potential and preserves the risks of a renewed decline. As long as the price remains above 0.5925, the local upward scenario remains in force.
Resistances are at the marks: 0.5980, 0.6005, 0.6030
An alternative scenario: 0.5925, 0.5890, 0.5860
The main scenario of the pair's movement implies a breakout of the session high of 0.5980 and there may be an increase to 1.6005 (May 27 high)
An alternative scenario suggests a breakout of the session low of 0.5925 and a possible decline to 0.5890 (May 22 low)
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