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- NZD/USD shows steady recovery
NZD/USD shows steady recovery
On the hourly chart, the NZD/USD pair shows a steady recovery after a reversal from a low near the 0.5885 level, consolidating above the MA (200) H1 moving average, which signals a transition to a bullish phase on the hourly chart. The price is holding near the local resistance of 0.60879, showing a steady upward momentum. Despite short-term pullbacks, support at 0.6030 remains key and holds back corrective pressure. The MACD indicator remains in the positive zone, although it signals a weakening of bullish dynamics due to a decrease in the amplitude of the histogram. If the price remains above the 0.6030–0.6020 zone, the uptrend may continue, while a breakdown of the 0.6090 level will open the way to new local highs. The overall technical picture remains favorable for buyers.
Resistances are at the marks: 0.6090, 0.6120, 0.6150
An alternative scenario: 0.6030, 0.6000, 0.5960
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 (Oct 11’ 2024 high)
An alternative scenario suggests a decline to 0.6030 (June 26 low) and then maybe to 0.6000 (June 25 low)
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