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- NZD/USD shows steady recovery
NZD/USD shows steady recovery
The hourly chart of the NZD/USD pair shows a recovery after the breakdown of the resistance level of 0.6000 and consolidation above it. The price tested the 0.6040 zone, but could not confidently overcome it, which led to consolidation near the 0.6015 level. The MA (200) H1 moving average is just above the price and serves as a resistance zone, limiting further growth. The MACD indicator shows a weakening of the bullish momentum: the histogram is decreasing, signaling a possible correction. If it falls below 0.6000, the next target may be the 0.5960 support. If the price can gain a foothold above 0.6040, then an increase to the area of 0.6090 is likely. The current technical picture indicates a phase of uncertainty with the potential for both continued growth and a downward correction.
Resistances are at the marks: 0.6040, 0.6090, 0.6120
An alternative scenario: 0.6000, 0.5960, 0.5880
The main scenario of the pair's movement implies a breakout of the resistance of 0.6050 (June 24 high) and there may be an increase to 0.6090 (June 16 high)
An alternative scenario suggests a breakout of the session low of 0.6000 and there may be a decline to 0.5960 (June 19 low)
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