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- NZD/USD shows an upward momentum
NZD/USD shows an upward momentum
There is a steady upward movement on the hourly chart of the NZD/USD pair. The price broke through the important resistance level of 0.5990 and gained a foothold above it, demonstrating the strength of buyers. The current quote is 0.6020, which is approaching the next significant resistance level of 0.6030. At the same time, it can be seen that the price is confidently moving above the MA (200) H1 moving average, which confirms the bullish trend.
The MACD indicator is located above the zero line, the histogram is colored green and is increasing, which indicates an increase in the upward momentum. This reinforces the signal for continued growth in the short term. The overall technical background for the NZD/USD pair remains positive, and if the current dynamics are maintained, we can expect a continuation of the upward movement.
Resistances are at the marks: 0.6030, 0.6060, 0.6085
An alternative scenario: 0.5990, 0.5945, 0.5925
The main scenario of the pair's movement implies a breakout of the resistance of 0.6030 (May 26 high) and there may be an increase to 1.6060 (Oct 22’ 2024 high)
An alternative scenario suggests a breakout of 0.5990 (May 30 high) and a possible decline to 0.5945 (May 30 low)
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