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- NZD/USD shows solid recovery
NZD/USD shows solid recovery
On the hourly chart, the NZD/USD pair is showing a steady recovery after a deep correction that ended in the 0.5880 support area. A rapid upward movement began from this level, which led to the breakdown of several key resistance levels, including 0.5960 and 0.6010, as well as an exit above the MA (200) H1 moving average, which strengthens bullish signals. The current price is consolidating near 0.6030, while the momentum remains, and the MACD indicator indicates a continuing upward movement, showing a steady upward divergence and positive histograms. If buyers keep the price above 0.6010 and the average line starts to turn up, the next significant benchmark will be the 0.6055 level. At the same time, in the event of a downward reversal and a breakdown of 0.60100, downward pressure may be activated again in order to return to 0.5960.
Resistances are at the marks: 0.6055, 0.6090, 0.6120
An alternative scenario: 0.6010, 0.5960, 0.5880
The main scenario of the pair's movement implies a breakout of the resistance of 0.6055 (June 18 high) and there may be an increase to 0.6090 (June 16 high)
An alternative scenario suggests a breakout of the 0.6010 support (June 20 high) and a possible decline to 0.5960 (June 19 low)
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