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- NZD/USD shows signs of recovery
NZD/USD shows signs of recovery
On the hourly chart, the NZD/USD pair is showing signs of recovery after rebounding from support at 0.5995. The price has overcome the MA (200) H1 moving average, located near 0.6030, which may signal a change in the short-term trend to an upward one. The current quote is fixed above this level, confirming the intention of buyers to continue growth. The MACD indicator has moved into a positive zone, and the histogram is steadily growing, indicating an increase in bullish momentum. The nearest resistance is at 0.6070, followed by the key level of 0.6080. The support has shifted to the area of 0.6030 and further to 0.5995. The overall technical picture indicates a recovery in bullish sentiment with a potential for growth in the direction of 0.6070, provided the price remains above the 200 SMA.
Resistances are at the marks: 0.6070-80, 0.6110, 0.6150
An alternative scenario: 0.5985-95, 0.5945, 0.5925
The main scenario of the pair's movement implies a decline to 0.5985-95 (June 3 and 13 low) and then maybe to 0.5945 (May 30 low)
The alternative scenario assumes an increase to 0.6070-80 (June 5 and 12 high)
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