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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 a steady recovery after a period of consolidation. The price broke through the 0.6045 up level, which previously acted as resistance, and continues to grow, approaching the local maximum of 0.6090. The exchange rate has consolidated above the MA (200) H1 moving average, which indicates the resumption of bullish momentum. The MACD indicator has moved into a positive zone, while the histogram remains green, confirming the strength of the upward movement. The overall technical picture indicates the probability of further growth of the pair, provided it remains above the level of 0.6045. The nearest resistance is the 0.6088 area, and support is the 0.6045 area and further 0.5995.
Resistances are at the marks: 0.6090, 0.6120, 0.6150
An alternative scenario: 0.6045, 0.5985-95, 0.5945
The main scenario of the pair's movement implies a breakout of the resistance of 0.6090 (June 16 high) and there may be an increase to 0.6120 (October 11’ 2024 high)
An alternative scenario suggests a breakout of the session low of 0.6045 and there may be a decline to 0.5985-95 (June 3-4 and 13 low)
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