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- NZD/USD is testing MA (200) H1
NZD/USD is testing MA (200) H1
On the hourly chart, the NZD/USD pair entered a correction phase after a sharp rise to the level of 0.6030, losing some positions and stabilizing around 0.5960. In recent hours, the price has been holding above the MA (200) H1 moving average, which indicates continued medium-term upward potential.
The MACD indicator shows the first signs of bullish strength recovery: the histogram moves into a positive zone after a prolonged decline phase, and the signal line begins to turn up. This may signal the formation of a new growth phase, subject to a breakdown of resistance. However, while there is no obvious momentum, a consolidation phase is likely within the range of 0.5925–0.5980.
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 (May 28 high) 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 (May 28 low) and a possible decline to 0.5890 (May 22 low)
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